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Vallourec to sell its Mülheim site (Germany) for €39 million
Mülheim (Germany), December 22, 2023 – Vallourec, a global leader in premium tubular solutions, announces that it has signed an agreement for the sale of its Mülheim to CTP, Europe’s largest developer of indexed trading assets. On December 14, the municipality of Mülheim agreed to waive its right of first refusal on the transaction and on December 22, all suspensive situations for the final decision were met.
This transaction involves the sale of an asset of approximately 330,000 square metres for a total value of €39 million. It is expected that around €37 million of this amount will be raised in two weeks.
Philippe Guillemot, Chairman of the Board of Directors and Chief Executive Officer, stated: “This transaction demonstrates our strong focus on achieving the goals of Nouveau Vallourec. By the end of 2023, we aim for net debt of less than €741 million, excluding the effect of land sales, which will mark five consecutive quarters of debt reduction. This transaction supports our near-term deleveraging ambitions and our ultimate goal of achieving 0 net debt by the end of 2025 at the latest. In addition, this sale is a testament to our ability to close transactions in a challenging environment through multi-stakeholder collaboration.
About Vallourec
Vallourec is a leader in high-end tubular responses for tough force markets and commercial programs, such as oil and fuel wells in harsh environments, next-generation power plants, challenging architectural projects, and high-performance mechanical equipment. Pioneering spirit and R
Listed on Euronext in Paris (ISIN code: FR0013506730, ticker VK), Vallourec belongs to the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for the Deferred Settlement Service.
In the United States, Vallourec has created a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, symbol: VLOWY). The parity between the ADR and a Vallourec percentage was set at 5:1.
For information, please contact:
Connor Lynagh Investor RelationsTel: 1 (713) 409-7842connor. lynagh@vallourec. com
Héloïse Rothenbühler Tel: 33 (0)1 41 03 50 heloise. rothenbuhler@vallourec. com
Individual shareholdersToll Free Number (from France): 0 805 505 110 [email protected]
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