East Pipes said the transaction does not result in any change in the ultimate control of the company
East Pipes Integrated Company for Industry received a letter dated March 24, regarding the completion of the ownership transfer of 6.93 million shares in the company, representing 22% of its total share capital, from Welspun Mauritius Holdings Ltd (the seller) to Welspun Pipes Inc USA (the buyer), a wholly owned subsidiary of Welspun Corp Limited. 
In a statement to Tadawul, the company said this transaction is part of an internal restructuring within the Welspun Group, involving its subsidiaries and affiliates, and does not result in any change in the ultimate control of the company.
However, the move will lead to a change in the list of major shareholders of East Pipes.
East Pipes said the transaction does not result in any change in the ultimate control of the company
East Pipes Integrated Company for Industry received a letter dated March 24, regarding the completion of the ownership transfer of 6.93 million shares in the company, representing 22% of its total share capital, from Welspun Mauritius Holdings Ltd (the seller) to Welspun Pipes Inc USA (the buyer), a wholly owned subsidiary of Welspun Corp Limited.
In a statement to Tadawul, the company said this transaction is part of an internal restructuring within the Welspun Group, involving its subsidiaries and affiliates, and does not result in any change in the ultimate control of the company.
However, the move will lead to a change in the list of major shareholders of East Pipes.
