TMK, Interpipe to Consolidate into World Leader

Pipe Metal Co. (TMK) of Dmitry Pumpyansky is in consolidating talks with Ukrainian Dmitry Pinchuk’s Interpipe. Should the parties finally agree, the united company will outpace Tenaris, which leads worldwide on this market.

It was Reuters that reported yesterday about consolidating negotiations of TMK and Interpipe. TMK did neither confirm nor denied the data and Interpipe refused to comment. But a high-rank source with Interpipe said that the companies are in talks and that the matter at stake is merger rather than buyout by Russia’s company.

TMK is the initiator, said another source familiar with the progress in negotiations. In March, Dmitry Pumpyansky met with Viktor Pinchuk to discuss the deal. TMK intends to acquire one of four Russia’s or foreign pipe companies appropriating at least $2 billion for this purpose, TMK Deputy General Director Vladimir Shmatovich said one week ago.