The condition of the main owner of the Pipe Metallurgical Company (TMK), Dmitry Pumpyansky, on March 22 increased by 6 billion rubles, or nearly $ 100 million. As of 17.00 Moscow time, the company's shares on the Moscow Exchange were trading at 56.6 rubles discovery. The capitalization of TMK exceeded 58 billion rubles.
In the global ranking of billionaires, published by Forbes in early March, Pumpyansky occupied the 1057th place, and his fortune was estimated at $ 2.2 billion (data as of February 8, 2019).
Shares of TMK on Friday went up after the company announced that it had agreed to sell its American subsidiary, pipe company IPSCO Tubulars. 100% of the company is estimated at $ 1.2 billion. This amount includes $ 270 million of working capital, but does not include cash and debt obligations on the balance sheet, follows from the message of TMK. The buyer is Tenaris, which produces seamless and welded pipes. Its assets are located around the world, and its headquarters is in Luxembourg. Companies entered into a contract of sale. The deal is not yet closed.
The American division of TMK included ten factories in the USA and two in Canada. The assets belonged to the Swedish SSAB until 2008, when they were acquired by Evraz Group - for further resale of TMK for $ 1.2 billion. Another $ 500 million TMK paid Evraz in 2009 under the terms of the option. In recent years, TMK has repeatedly stated that it may consider the possibility of selling US assets. In 2018, TMK announced that it would conduct an IPO IPSCO. During the placement, it was planned to raise up to $ 535 million. But the IPO was postponed due to adverse market conditions.
A few years ago, Severstal sold all American assets. The latter - in 2014 after the annexation of the Crimea to Russia and the introduction of US sanctions. From 2004 to 2014, Severstal spent $ 5.9 billion on acquisitions and investments in American factories, and sold them for $ 2.2 billion. “Of course, we made a big mistake, sold much cheaper than bought,” the main shareholder acknowledged companies Alexey Mordashov F 2 at the St. Petersburg Economic Forum in 2015. In the same year, at a meeting with President Vladimir Putin, the billionaire, speaking of the sale of American assets, promised to avoid “unwise investments” in the future.