Befesa: Buys American Zinc Recycling - shares top SDAX

Befesa SA

17/06/2021 08:48

** Shares in Befesa  BFSA.DE  are up 5% after the German
metals recycling group said it would buy American Zinc Recycling
(AZR) for $450 million  urn:newsml:reuters.com:*:nASN001C1Z
    ** JPM says the transaction is "transformative" and
"accretive" since AZR is the market leader in the US, where
Befesa currently doesn't have a presence
    ** The company said it would finance the deal by issuing
about 6 million shares (or 17%) to institutional investors by
way of accelerated bookbuilding
    ** The shares are topping the German small cap SDAX  .SDAXI 
index

 ((Veronica.snoj@tr.com))