ArcelorMittal sells 10% of Vallourec shares, raising $667M to fund share buybacks.

ArcelorMittal sold about 23.9 million shares of Vallourec, representing 10% of Vallourec's capital, raising approximately $667 million through an accelerated bookbuilding process. The proceeds will be used for ArcelorMittal's ongoing share buyback program, returning value to its shareholders. Despite the sale, ArcelorMittal retains a 17.3% stake in Vallourec and a board seat, signaling continued support for Vallourec's strategy. This move reflects ArcelorMittal's disciplined capital allocation and focus on delivering shareholder returns.