Vallourec in International Employee Share Offering

Cleary Gottlieb assisted Vallourec, world leader in the production of seamless steel tubes, in structuring and implementing its “Value 10” international employee share offering plan. More than 13,000 employees in eight countries (France, Germany, Brazil, United States, United Kingdom, Mexico, China and Canada), representing 70% of eligible personnel, subscribed to the proposed share offering. The deal closed on December 3, 2010.