Tenaris Seeks Approval to Launch Tender Offer for Confab Shares

Tenaris S.A. (NYSE:

) announced today that it filed a request with CVM and the Sao Paulo stock exchange seeking their approval to a public delisting tender offer to acquire all of the ordinary and preferred shares held by the public in its controlled Brazilian subsidiary Confab Industrial S.A. The offer, which would be made pursuant to applicable Brazilian laws and regulations, would be subject to customary conditions. If the offer is approved, Tenaris will offer to pay a price in cash of Brazilian real, or BRL, 5.20 per ordinary or preferred share, which represents a premium of approximately 32% to Confab's closing price of August 26, 2011, and a premium of approximately 35% to its 20-trading day volume weighted average price. Tenaris currently owns 99% of Confab's ordinary shares, which represent 99% of the voting rights and 41% of the share capital. If all Confab shares not already owned by Tenaris are acquired, the transaction would be valued at BRL 1,243 million.