The European Commission announced on Tuesday, October 13, that it approved Tenaris’s acquisition of sole control over Romanian company Artrom Steel Tubes under the EU Merger Regulation. The transaction was examined through the Commission’s standard merger review procedure.
“The Commission concluded that the notified transaction would not raise competition concerns, given that credible competitors would continue to supply customers in the markets where the parties are active,” the EU executive’s Romanian representation announced.
The transaction primarily concerns the manufacture of steel pipes.
Luxembourg-based Tenaris announced in May that it had agreed to acquire Artrom, Romania’s leading producer of seamless steel pipes, for EUR 86 million. The deal was structured on a cash-free and debt-free basis and included a normalized level of working capital.
Artrom operates a pipe plant in Slatina and a steel mill in Reșița. It employs roughly 2,000 people.
Tenaris said at the time that the acquisition would expand its industrial pipe portfolio and manufacturing footprint, strengthening its capacity to serve customers in Europe’s industrial market.
The transaction also requires approval from the Romanian authorities, with closing expected in the fourth quarter of 2026.