Mitrani, Caballero & Ruiz Moreno, Sullivan & Cromwell and Jones Walker advised Tenaris on the deal. Mayer Brown, Adams and Reese and Breazeale, Sachse & Wilson advised Benteler.

Tenaris S.A. has entered into a definitive agreement to acquire from Benteler North America Corporation, a Benteler group company, 100% of the shares of Benteler Steel & Tube Manufacturing Corporation for an aggregate price of US$460 million, on a cash-free, debt-free basis. The acquisition will include US$52 million of working capital.

The transaction is subject to regulatory approvals, including approval by the U.S. antitrust authorities, consent by Louisiana Economic Development and other local entities, and other customary conditions. Closing is expected to occur during the fourth quarter of 2022.

Benteler Steel & Tube Manufacturing Corporation is a U.S. producer of seamless steel pipe, with an annual pipe rolling capacity of up to 400,000 metric tons at its production facility located in Shreveport, Louisiana. The acquisition would further expand Tenaris’s production range and local manufacturing presence in the U.S. market.

Mitrani, Caballero & Ruiz Moreno advised Tenaris with a team including Diego E. Parise (Picture), Juan Ignacio Soma, Felicitas de Achaval, Esteban Valansi, Bruno Fiorino, Carolina Maddalena and Maria Sol Dianti.

Sullivan & Cromwell advised Tenaris with a team including Sergio J. Galvis, Adam S. Paris, Scott B. Crofton, Eric H. Queen, Bradley P. Smith and Clea M. McClellan.

Jones Walker advised Tenaris with a team including Thomas Roberson, David M. Hunter, Matthew W. Kern, Seth A. Levine, Robert W. Scheffy Jr. and  Alex Prochaska.

Mayer Brown advised Benteler with a team including Joachim J. Modlich, Esther Chang, Scott P. Perlman, Paul A. Chandler, Sarwenaz Kiani, Pete R. Osornio, Courtney C. Seitz  and Laura S. Buchanan.

Adams and Reese advised Benteler with a team including James T. Rogers III and Christopher J. Kane.

Breazeale Sachse & Wilson advised Benteler with a team including Timothy W. Hardy.

Involved fees earner: Christopher Kane – Adams and Reese; James Rogers III – Adams and Reese; Timothy Hardy – Breazeale, Sachse & Wilson; David Hunter – Jones Walker LLP; Matthew Kern – Jones Walker LLP; Seth Levine – Jones Walker LLP; Alex Prochaska – Jones Walker LLP; Thomas Roberson Jr. – Jones Walker LLP; Robert Scheffy Jr. – Jones Walker LLP; Laura Buchanan – Mayer Brown; Esther Chang – Mayer Brown; Sarwenaz Kiani – Mayer Brown; Joachim Modlich – Mayer Brown; Pete Osornio – Mayer Brown; Paul Chandler – Mayer Brown; Scott Perlman – Mayer Brown; Courtney Seitz – Mayer Brown; Felicitas de Achaval – Mitrani Caballero & Ruiz Moreno; Maria Sol Dianti – Mitrani Caballero & Ruiz Moreno; Bruno Fiorino – Mitrani Caballero & Ruiz Moreno; Carolina Maddalena – Mitrani Caballero & Ruiz Moreno; Diego Parise – Mitrani Caballero & Ruiz Moreno; Juan Ignacio Soma – Mitrani Caballero & Ruiz Moreno; Esteban Valansi – Mitrani Caballero & Ruiz Moreno; Scott Crofton – Sullivan & Cromwell; Sergio Galvis – Sullivan & Cromwell; Clea McClellan – Sullivan & Cromwell; Adam Paris – Sullivan & Cromwell; Eric Queen – Sullivan & Cromwell; Bradley Smith – Sullivan & Cromwell;

Law Firms: Adams and Reese; Breazeale, Sachse & Wilson; Jones Walker LLP; Mayer Brown; Mitrani Caballero & Ruiz Moreno; Sullivan & Cromwell;

Clients: Benteler Group ; Tenaris SA;

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