Eversheds Sutherland Advises GLGH Steel on Definitive Agreement to Sell 100% of the Share Capital of Artrom Steel Tubes S.A. to Tenaris S.A.

The transaction highlights Great Lakes Global Partners' ability to navigate policy and regulatory challenges to extract value.

Artrom Steel Tubes S.A. is a Romanian manufacturer of steel and seamless steel pipes, with annual steelmaking capacity of approximately 450,000 metric tons at its facility in Reșița, and seamless pipe rolling capacity of up to 200,000 metric tons at its Slatina facility. 

GLGH Steel extends its appreciation to the Government of Romania in facilitating this high-profile transaction between foreign direct investors, and to Eversheds Sutherland for the seamless cross-border M&A execution demonstrated by, inter alia, its Chicago, Washington DC, Paris and Bucharest offices.

The transaction is subject to customary regulatory conditions, including clearance from the European Union competition authorities and Romanian government approvals. Closing is expected to occur during the fourth quarter of 2026.

Led by US-based Partner Ted Cominos (Cross-border M&A, Chicago) and Partner Cristina Audran-Proca (Cross-border M&A, Paris), the core multi-jurisdictional team comprised: Partner Josh Shapiro (Antitrust, Washington, DC), Managing Partner Mihai Guia (Head of Central Eastern Europe Group, Bucharest), Partner Alexandra Sulea (Corporate M&A, Bucharest), Senior Partner Cristian Lina (Corporate, Bucharest), Partner Elena Teletin (Tax, Bucharest) and Associates Daniela Stanica (Corporate, Bucharest), Mathew Naughton (Corporate, Chicago), Hani Majeed (Corporate, Chicago), and Evan Johnson (Corporate, Chicago).