White & Case advises Vallourec on sale of minority stake in Hüttenwerke Krupp Mannesmann to Salzgitter

Global law firm White & Case LLP has advised Vallourec S.A.(Vallourec), a global manufacturing company specializing in tubular solutions for the energy and industrial sectors listed on the Euronext Paris, on the sale of its 20 percent stake in Hüttenwerke Krupp Mannesmann GmbH (HKM) to its joint venture partner Salzgitter AG, a European steel and technology group based in Germany.

Alongside Vallourec, co-shareholder thyssenkrupp Steel Europe AG also sold its 50 percent stake in HKM to Salzgitter AG. Vallourec and thyssenkrupp Steel Europe AG thereby withdraw from the HKM-joint venture with HKM becoming a wholly owned subsidiary of Salzgitter AG.

HKM is one of the leading manufacturers of crude steel and input material for the processing industry in Germany. It operates one of Germany's largest steelworks in Duisburg, Germany, including related energy and infrastructure systems.

The transaction supports Vallourec's strategic focus on its core business and key markets.

The White & Case team which advised on the transaction was led by partner Thyl Hassler (Düsseldorf) and local partner Tobias Zuendorf (Hamburg) and included partners Markus Langen, Bodo Bender (both Frankfurt), Daniel Schwartz (Düsseldorf), Saam Golshani, Claire Sardet and Alex Ippolito (all Paris), local partners Nicolas Bechtold and Alisa Preissler (both Frankfurt) and associate Felix Baumgarten (Frankfurt).

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