Germany's Befesa buys American Zinc Recycling Corp for $450 million
16/06/2021 17:07
June 16 (Reuters) - Germany's Befesa BFSA.DE said on
Wednesday it would buy American Zinc Recycling (AZR) for $450
million to become a leader in recycling of steelmaking dust in
Europe, Asia and the United States.
The deal, which should close in the third quarter of 2021,
will be funded by the issue of about 6 million shares to
institutional investors by way of accelerated bookbuilding.
As part of the agreement, Befesa will also acquire a
minority stake of 6.9% of in American Zinc Products LLC, AZR's
zinc refining subsidiary, for $10 million with the option to buy
the remaining 93.1% for $135 million.
(Reporting by Zuzanna Szymanska in Gdansk
Editing by Madeline Chambers)
((zuzanna.szymanska@thomsonreuters.com; + 48 58 769 65 61;))