ArcelorMittal, a multinational steel manufacturing corporation, agreed to acquire a 28.4% stake in Vallourec, a global company in premium tubular solutions primarily serving the energy markets, from Apollo Global Management, an alternative investment manager, for €955m. “Vallourec is a quality, high added-value tubular business, with established positions of strength in the attractive Brazilian and US markets. As a producer of premium tubular solutions, it has a critical role to play in the energy transition, producing vital products for hydrogen, CCS and geothermal applications, for which demand is expected to grow. It also has a comparatively low carbon footprint with ambitious improvement targets. We look forward to being part of the company’s future,” Aditya Mittal, ArcelorMittal CEO.