Parties
Company
Mattr Infratech (formerly Shawcor Ltd.)
Company
Tenaris S.A.
Shawcor Ltd. has signed a deal to sell a substantial part of its pipe coating division to Tenaris S.A. for about $220 million. Shawcor announced a plan last year to change its name to Mattr and launched a strategic review of its pipeline and oilfield asset management divisions. The sale includes operations in Canada, the U.S., Mexico, Norway, the UAE and Indonesia, several mobile concrete coating plants, its joint-venture interest in Azerbaijan, research and development operations in Toronto and Norway and intellectual property. The transaction is subject to customary closing conditions, including regulatory approvals, which the company expects to take about six months to complete.
Deal Type
Merger & AcquisitionIndustry
EnergyTransaction
$ 220,000,000Deal Status
ActiveClosing Date