04:40 AM EDT, 03/13/2024 (MT Newswires) -- Apollo Global Management ( APO ) said late Tuesday it has agreed to sell its minority stake in tubular steel products maker Vallourec to ArcelorMittal ( MT ) for 955 million euros ($1.04 billion).

Under the terms of the deal, funds managed by investment firm Apollo will sell 65.2 million shares of Vallourec representing a 28.4% stake in the company for 14.64 euros per share to steelmaker ArcelorMittal ( MT ).

The transaction, which is expected to close in H2, will mark Apollo's exit from Vallourec.