Tenaris’ $240 Million Joint venture with Severstal


Mitrani Caballero & Ruiz Moreno and White & Case advised on the deal

Tenaris S.A. (NYSE, Buenos Aires and Mexico: TS and MTA Italy: TEN) will form a joint venture with PAO Severstal to build a welded pipe plant to produce OCTG products in the Surgut area, West Siberia, Russian Federation. Tenaris will have a 49% interest in the joint venture company, with Severstal owning the remaining 51%. The commencement of the project is subject to regulatory approvals and other customary conditions.

The plant, which is estimated to require an investment of USD240 million and a two year construction period, is planned to have an annual production capacity of 300,000 tons. Through this joint venture, Tenaris and Severstal aim to serve the growing market for welded OCTG pipe products in Russia and neighbouring countries, combining Tenaris’s knowhow in OCTG pipe manufacturing and sales with Severstal’s expertise in producing high quality steel products.

Mitrani Caballero & Ruiz Moreno advised Tenaris with a team including Verónica Zarate (Picture), Gabriela Vizcaino (M&A), Felicitas de Achaval, José María Aballone, María Paula Diaz, Rita Colombo and Agustina Avila.

White & Case advised Tenaris with Andrei Donstov, Irina Dmitrieva, Ksenia Tyunik.

Involved fees earner: José María Aballone – Mitrani Caballero Ojam & Ruiz Moreno Abogados; Agustina Avila – Mitrani Caballero Ojam & Ruiz Moreno Abogados; Rita Colombo – Mitrani Caballero Ojam & Ruiz Moreno Abogados; Felicitas de Achaval – Mitrani Caballero Ojam & Ruiz Moreno Abogados; Gabriela Vizcaino – Mitrani Caballero Ojam & Ruiz Moreno Abogados; María Paula Diaz – Mitrani Caballero Ojam & Ruiz Moreno Abogados; Verónica Zarate – Mitrani Caballero Ojam & Ruiz Moreno Abogados; Irina Dmitrieva – White & Case; Andrei Donstov – White & Case; Ksenia Tyunik – White & Case;

Law Firms: Mitrani Caballero Ojam & Ruiz Moreno Abogados; White & Case;

Clients: Tenaris;

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Author: Ambrogio Visconti.