December 25, 2019 / 3:24 PM / a month ago

Russia's TMK to complete IPSCO sale in January: Interfax

MOSCOW (Reuters) - Russian steel pipemaker TMK (TRMK.MM) plans to complete the sale of its U.S. subsidiary IPSCO Tubular in January, Interfax news agency reported on Wednesday, citing TMK controlling shareholder Dmitry Pumpyansky.

TMK agreed in March to sell IPSCO to pipe producer Tenaris (TENR.MI), which has production facilities in the United States and several other countries, for $1.2 billion.

Reporting by Polina Devitt; Editing by Edmund Blair

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