Tenaris’ $355 Million sale of American Electric Conduit Business to Nucor


Moore & Van Allen, Arnold & Porter, Mitrani Caballero Ojam & Ruiz Moreno and Sullivan & Cromwell have advised on the deal

Tenaris (NYSE: TS) (BAE: TS) (BMV: TS) (MILAN: TEN) has entered into a definitive agreement with Nucor Corporation (NUE) pursuant to which it will sell its steel electric conduit business in North America, known as Republic Conduit, to Nucor for US$ 335 million on a cash free, debt-free basis. The agreement is subject to U.S. antitrust clearance and other customary conditions and is expected to close during January 2017.

The business being transferred sells welded steel pipes for electric conduits used in the construction industry, and operates two facilities located in Louisville, Kentucky, and Cedar Springs, Georgia, in the United States.

Moore & Van Allen has advised Nucor Corporation with Jeremy H. Godwin (Picture) and Robert Rust.

Arnold & Porter LLP has advised Nucor Corporation with Jason Ewart and Yasmine Harik.

Mitrani Caballero Ojam & Ruiz Moreno has advised Maverick (Tenaris) with Diego Parise, Mercedes Rodríguez Giavarini and Philip Wayne Smith.

Sullivan & Cromwell has advised Maverick (Tenaris) with Sergio J. Galvis, Scott Crofton, Ronald Creamer and Steven Holley.

Involved fees earner: Diego Parise – Mitrani Caballero Ojam & Ruiz Moreno Abogados; Mercedes Rodríguez Giavarini – Mitrani Caballero Ojam & Ruiz Moreno Abogados; Jeremy Godwin – Moore & Van Allen; Robert Rust – Moore & Van Allen; Jay Ewart – Arnold & Porter; Yasmine Harik – Arnold & Porter; Sergio Galvis – Sullivan & Cromwell; Scott Crofton – Sullivan & Cromwell; Ronald Creamer – Sullivan & Cromwell; Steven Holley – Sullivan & Cromwell;

Law Firms: Mitrani Caballero Ojam & Ruiz Moreno Abogados; Moore & Van Allen; Arnold & Porter; Sullivan & Cromwell;

Clients: Nucor Corporation; Maverick Tube Corporation;

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Author: Ambrogio Visconti