ArcelorMittal unlocks value through partial sell-down of its shareholding in Vallourec with proceeds allocated to share buybacks
ArcelorMittal (MT) has priced a secondary offering of approximately 23.9 million Vallourec shares, equal to about 10.0% of Vallourec’s share capital, at EUR 24.00 per share, raising roughly US$667 million.
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Rhea-AI Summary
ArcelorMittal (MT) has priced a secondary offering of approximately 23.9 million Vallourec shares, equal to about 10.0% of Vallourec’s share capital, at EUR 24.00 per share, raising roughly US$667 million.
Proceeds will fund ArcelorMittal’s ongoing share buyback programme. After settlement, expected around 21 May 2026, ArcelorMittal will retain about 17.3% of Vallourec and one Board seat, and has agreed to a 90-day lock-up on its remaining stake.
Positive
- Raises approximately US$667 million from Vallourec share sale
- Sells around 23.9 million Vallourec shares, about 10% of share capital
- Proceeds allocated to ongoing ArcelorMittal share buyback programme
- Retains approximately 17.3% Vallourec stake plus one Board seat
Negative
- 90-day lock-up limits flexibility to sell remaining Vallourec stake
- Reduced Vallourec ownership from prior level to about 17.3%
Details
News Market Reaction – MT
On May 19, the day this news came out, MT closed 4.36% below the previous close.
Data tracked by StockTitan Argus for the May 19 session.
Key Figures
- Vallourec shares sold
- 23.9 million shares
- Secondary offering of Vallourec SA by ArcelorMittal
- Stake sold
- 10.0% of share capital
- Portion of Vallourec’s outstanding share capital sold
- Offer price
- EUR 24.00 per share
- Pricing of Vallourec secondary offering
- Gross proceeds
- US$667 million
- Proceeds from Vallourec share sale allocated to buybacks
- Remaining Vallourec stake
- 17.3% of share capital
- ArcelorMittal’s holding post-transaction
- Lock-up period
- 90 calendar days
- Lock-up on remaining Vallourec stake after settlement
- Settlement date
- On or around 21 May 2026
- Expected settlement for the Vallourec share sale
- Initial Vallourec investment year
- 2024
- Year ArcelorMittal acquired its initial Vallourec shareholding
Previous Buybacks Reports
-
Announced multi‑year buyback framework following completion of prior 85M share program.
-
Reported completion of 85M share buyback program authorized in 2023 and 2024.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
accelerated bookbuilding financial
lock-up financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
19 May 2026, 08:00 CET
ArcelorMittal SA (“ArcelorMittal” or “the Company”) today announces the successful pricing of its secondary offering of shares in Vallourec SA (“Vallourec”). ArcelorMittal has sold approximately 23.9 million shares in Vallourec, representing approximately
The transaction reflects ArcelorMittal’s disciplined approach to capital allocation and portfolio management. The sale proceeds will be returned to ArcelorMittal shareholders via the Company’s ongoing share buyback programme.
ArcelorMittal remains supportive of Vallourec’s strategy and management team and continues to see value in the company. Following the settlement of the transaction, ArcelorMittal will retain approximately
Settlement is expected to occur on or around 21 May 2026.
ArcelorMittal has agreed to a lock-up in its remaining stake in Vallourec for 90 calendar days following the settlement date, subject to customary carve-outs.
Commenting, Genuino Christino, Chief Financial Officer, ArcelorMittal, said:
“This step underlines our commitment to deploying capital in a way that delivers clear, measurable returns for shareholders. By realising value and returning the proceeds to shareholders through buybacks, we are converting a strong investment outcome into immediate, tangible benefits.
“More broadly, it is another example of how we have consistently executed our strategy in recent years - investing in high-return opportunities to develop ArcelorMittal into a more resilient, higher-quality business, capable of delivering sustainable value for shareholders through the cycle.”
ArcelorMittal acquired its initial shareholding in Vallourec in 2024 and continues to view the company as a high-quality business with a strong market position.
ENDS
About ArcelorMittal
ArcelorMittal is one of the world’s leading integrated steel and mining companies with a presence in 60 countries and primary steelmaking operations in 14 countries. It is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. ArcelorMittal sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2025 generated revenues of
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
http://corporate.arcelormittal.com/
| ArcelorMittal Investor Relations contact information | |
| General | +44 20 7543 1128 |
| Retail | +44 20 3214 2893 |
| Bonds/Credit | +33 171 921 026 |
| investor.relations@arcelormittal.com | |
| ArcelorMittal Corporate Communications contact information | |
| Paul Weigh | |
| Tel: | +44 20 3214 2419 |
| press@arcelormittal.com | |
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