Vallourec confirms the exit of the SVPGlobal fund from its capital | Photo credits: © vallourec
PARIS (Agefi-Dow Jones)–The manufacturer of seamless tubes for the oil industry Vallourec announced in a press release published Thursday evening that the SVPGlobal fund had sold its stake in the group.
This sale led to the end of the pact entered into with Vallourec and the resignation of the directors appointed by SVPGlobal, William de Wulf and Paul Marchand.
The fund specializing in financial restructuring had entered the capital of Vallourec on the occasion of the conversion of part of the group’s receivables into equity, in June 2021. It had halved its stake to 6.30% in May last.
Following the sale of the balance of this stake, Vallourec’s capital is divided between the Apollo Global Management fund (28.5%), employees and the company (around 0.3%) and a free float of 71.2%. .
-Francois Schott, Agefi-Dow Jones; 01 41 27 47 92; [email protected] ed: LBO
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October 07, 2022 01:36 ET (05:36 GMT)