Tenaris’s controlling shareholder files an amendment to Schedule 13D in response to Tenaris’s ongoing share buyback program
Tenaris (NYSE: TS) announced that its controlling shareholders San Faustin S.A. and Techint Holdings S.à r.l. have filed an amendment to their Schedule 13D with the SEC. The filing comes in response to Tenaris's ongoing share buyback program, which has caused San Faustin's ownership stake to passively increase.
On September 17, 2025, San Faustin's board authorized Techint Holdings to sell Tenaris shares while maintaining a minimum 67% ownership threshold. The timing and volume of sales will depend on market conditions, with no guarantee of completion. The controlling shareholders maintain the flexibility to purchase or sell shares based on market conditions but have no plans for extraordinary corporate transactions.
Tenaris (NYSE: TS) ha annunciato che i suoi azionisti di controllo, San Faustin S.A. e Techint Holdings S.à r.l., hanno depositato un emendamento al loro Schedule 13D presso la SEC. La nuova registrazione risponde al programma di riacquisto di azioni in corso di Tenaris, il quale ha provocato un aumento passivo della partecipazione di San Faustin.
Il 17 settembre 2025, il consiglio di San Faustin ha autorizzato Techint Holdings a vendere azioni Tenaris mantenendo una partecipazione minima del 67%. Le tempistiche e le quantità delle vendite dipenderanno dalle condizioni di mercato, senza alcuna garanzia di completamento. Gli azionisti di controllo mantengono la flessibilità di acquistare o vendere azioni in funzione delle condizioni di mercato, ma non hanno in programma operazioni societarie straordinarie.
Tenaris (NYSE: TS) anunció que sus accionistas de control, San Faustin S.A. y Techint Holdings S.à r.l., han presentado una enmienda a su Schedule 13D ante la SEC. La presentación responde al programa de recompra de acciones de Tenaris en curso, que ha hecho que la participación de San Faustin aumente de forma pasiva.
El 17 de septiembre de 2025, la junta de San Faustin autorizó a Techint Holdings a vender acciones de Tenaris manteniendo un umbral mínimo de 67% de propiedad. El momento y el volumen de las ventas dependerán de las condiciones del mercado, sin garantía de realización. Los accionistas de control conservan la flexibilidad de comprar o vender acciones según las condiciones del mercado, pero no tienen planes de transacciones corporativas extraordinarias.
Tenaris (NYSE: TS)는 지배 주주인 San Faustin S.A.와 Techint Holdings S.à r.l.이 SEC에 Schedule 13D 수정서를 제출했다고 발표했습니다. 이번 제출은 Tenaris의 진행 중인 자사주 매입 프로그램에 대응한 것으로, San Faustin의 소유 지분이 수동적으로 증가하게 되었습니다.
2025년 9월 17일에 San Faustin의 이사회는 Techint Holdings가 Tenaris 주식을 매도하되 최소 67%의 소유 지분을 유지하도록 승인했습니다. 매매의 시기와 규모는 시장 상황에 따라 달라지며 완료를 보장하지 않습니다. 지배 주주들은 시장 상황에 따라 주식을 매입하거나 매도할 유연성을 보유하지만, 특별한 기업 거래 계획은 없습니다.
Tenaris (NYSE: TS) a annoncé que ses actionnaires de contrôle, San Faustin S.A. et Techint Holdings S.à r.l., ont déposé un amendement à leur Schedule 13D auprès de la SEC. Le dépôt répond au programme de rachat d’actions en cours de Tenaris, qui a entraîné une augmentation passive de la participation de San Faustin.
Le 17 septembre 2025, le conseil de San Faustin a autorisé Techint Holdings à vendre des actions Tenaris tout en maintenant un seuil de propriété minimum de 67%. Le moment et le volume des ventes dépendront des conditions du marché, sans garantie d’achèvement. Les actionnaires de contrôle conservent la flexibilité d’acheter ou de vendre des actions selon les conditions du marché, mais n’ont pas de projets d’opérations corporatives extraordinaires.
Tenaris (NYSE: TS) gab bekannt, dass seine kontrollierenden Aktionäre San Faustin S.A. und Techint Holdings S.à r.l. eine Änderung ihres Schedule 13D bei der SEC eingereicht haben. Die Einreichung erfolgt als Reaktion auf Tenaris' laufendes Aktienrückkaufprogramm, durch das San Faustins Eigentumsanteil passiv gestiegen ist.
Am 17. September 2025 hat der San Faustin-Vorstand Techint Holdings autorisiert, Tenaris-Aktien zu verkaufen, wobei eine Mindestbeteiligung von 67% beibehalten wird. Der Zeitpunkt und das Verkaufsvolumen hängen von den Marktbedingungen ab; eine Fertigstellung wird nicht garantiert. Die kontrollierenden Aktionäre behalten die Flexibilität, Aktien basierend auf den Marktbedingungen zu kaufen oder zu verkaufen, haben jedoch keine Pläne für außergewöhnliche Unternehmens-transaktionen.
Tenaris (NYSE: TS) أعلنت أن مساهميها المسيطرين سان فاوستن ش.ش.م و Techint Holdings S.à r.l. قد قدما تعديلًا على Schedule 13D لدى هيئة الأوراق المالية SEC. يجئ هذا التقديم استجابة لـ برنامج إعادة شراء الأسهم المستمر من Tenaris، الذي أدى إلى زيادة حصة ملكية سان فاوستن بصورة غير مباشرة.
في 17 سبتمبر 2025، أقرت مجلس إدارة سان فاوستن أن Techint Holdings يبيع أسهم Tenaris مع الحفاظ على حد ملكية أدنى بنسبة 67%. سيعتمد توقيت وحجم المبيعات على ظروف السوق، دون ضمان الاكتمال. يحتفظ المساهمون المسيطرون بالمرونة في شراء أو بيع الأسهم وفقًا لظروف السوق، لكن ليس لديهم خطط لصفقات شركات استثنائية.
Tenaris (NYSE: TS)宣布，其控股股东 San Faustin S.A. 与 Techint Holdings S.à r.l. 已向美国证券交易委员会（SEC）提交了对 Schedule 13D 的修正案。该 filing 是对 Tenaris 正在进行的股票回购计划的回应，造成 San Faustin 的所有权份额被动上升。
在 2025 年 9 月 17 日，San Faustin 董事会授权 Techint Holdings 在维持最低 67% 所有权门槛的前提下出售 Tenaris 股份。出售的时机与数量将取决于市场条件，不能保证完成。控股股东保留根据市场条件买卖股票的灵活性，但没有进行重大企业交易的计划。
- Controlling shareholders maintain significant long-term commitment with 67% minimum stake
- Strategic portfolio management approach shows careful consideration of market dynamics
- Share buyback program continues to be executed as planned
- Potential selling pressure from controlling shareholder stock sales
- Market uncertainty regarding timing and volume of potential share sales
- Passive increase in controlling shareholder stake could affect stock liquidity
Insights
San Faustin authorized to sell Tenaris shares while maintaining 67% control threshold, balancing ownership dilution from company's buyback program.
Tenaris's indirect controlling shareholder San Faustin has made a strategic portfolio adjustment in response to an ownership dilution paradox. As Tenaris continues its share repurchase program, San Faustin's ownership percentage is automatically increasing without any action on their part - a phenomenon known as passive dilution. To counterbalance this effect, San Faustin has authorized Techint Holdings to sell a portion of Tenaris shares, but with a critical caveat: they'll maintain at least 67% ownership of outstanding shares.
This move represents a calibrated rebalancing rather than a loss of confidence. The controlling shareholders explicitly stated they have no plans for extraordinary corporate transactions or to reduce their stake below the 67% threshold. This suggests they remain committed to maintaining decisive control while optimizing their investment portfolio.
From a market perspective, this creates a unique dynamic where two opposing forces - the company's buyback program and the controlling shareholder's potential selling - will interact in the market. The fact that San Faustin set a firm 67% floor indicates they view this level as providing sufficient strategic control while allowing for some liquidity.
The disclosure's timing is significant as it provides transparency to the market about potential selling pressure, though without committing to specific volumes or timelines. This careful approach - announcing the intent while preserving flexibility on execution - suggests a sophisticated strategy to minimize market disruption while achieving their portfolio objectives.
LUXEMBOURG, Sept. 19, 2025 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”, or the “Company”) announced that its indirect controlling shareholder San Faustin S.A. and its direct controlling shareholder Techint Holdings S.à r.l. (the “Reporting Persons”) filed earlier today with the SEC an amendment to their Schedule 13D, reporting that, for portfolio-management purposes and in response to Tenaris’s ongoing share repurchase program causing San Faustin’s beneficial ownership interest in Tenaris to passively increase, on September 17, 2025, the board of directors of San Faustin had authorized Techint Holdings to sell a number of its ordinary shares of Tenaris, provided that Techint Holdings’ ownership stake in Tenaris should not fall below
Some of the statements contained in this press release are “forward-looking statements”. Forward-looking statements are based on management’s current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to future oil and gas prices and their impact on investment programs by oil and gas companies.
Tenaris is a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications.
Giovanni Sardagna
Tenaris
1-888-300-5432
www.tenaris.com
FAQ
What is the minimum ownership stake Techint Holdings will maintain in Tenaris (NYSE: TS)?
Why are Tenaris (TS) controlling shareholders planning to sell shares?
When did San Faustin's board authorize the sale of Tenaris shares?
What factors will determine the timing and amount of Tenaris share sales?
Do Tenaris controlling shareholders plan any extraordinary corporate transactions?
