ArcelorMittal disclosed on Tuesday that it has raised roughly $667 million by selling a 10% stake in French tube‑manufacturer Vallourec. The Luxembourg‑based steel group off‑loaded about 23.9 million shares through an accelerated book‑building process aimed at institutional investors. Proceeds will flow directly into the company’s ongoing share‑repurchase programme.

The divestiture ends a short‑lived holding that began in early 2024, when ArcelorMittal purchased 65.2 million shares for a 28.4% equity position. At that time, Vallourec’s production hubs in the United States and Brazil were touted as strategic assets for the energy transition, giving the steelmaker exposure to high‑growth markets.

By converting the investment back into cash, ArcelorMittal strengthens its balance sheet and signals confidence in returning value to shareholders rather than expanding its downstream portfolio. Analysts had noted that the Vallourec stake tied up capital amid volatile steel margins, so the buyback route may appeal to investors seeking immediate earnings per share support.

With the cash now earmarked for repurchases, the company can accelerate its ongoing buyback schedule, potentially boosting earnings per share and dividend yield. Shareholders receive a tangible benefit without awaiting future operational turnarounds, reinforcing ArcelorMittal’s focus on capital efficiency as it navigates a challenging global metals market.