29 Oct 2019 16:15

TMK hoping to close deal on sale of IPSCO by mid-Dec

MOSCOW. Oct 29 (Interfax) - TMK may close a deal on the sale of IPSCO by mid-December, TMK Vice President Vladimir Shmatovich told Interfax.

"We're waiting for a decision from the U.S. Department of Justice. We've established a good dialogue. I think we'll be able to close a deal in the first half of December," Shmatovich said.

In August, Tenaris CEO Paolo Rocca said that Dmitry Pumpyansky's TMK Group and Tenaris SA were planning to close a deal on TMK's sale of its American asset IPSCO to the Italian pipe producer by the end of the year.