DGAP-Adhoc

Befesa S.A.: Befesa hat endgültige Vereinbarungen zur Übernahme von American Zinc Recycling Corp. für einen Kaufpreis von 450 Mio. USD unterzeichnet

DGAP-Ad-hoc: Befesa S.A. / Schlagwort(e): Firmenübernahme/Kapitalerhöhung Befesa S.A.: Befesa hat endgültige Vereinbarungen zur Übernahme von American Zinc Recycling Corp. für einen Kaufpreis von 450 Mio. USD unterzeichnet 16.06.2021 / 17:52 CET/CEST Veröffentlichung einer Insiderinformation nach Artikel 17 der Verordnung (EU) Nr. 596/2014, übermittelt durch DGAP - ein Service der EQS Group AG. Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, INTO OR WITHIN THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

Disclosure of inside information according to Article 17 para. 1 of the Regulation (EU) No. 596/2014
 

• Befesa has signed definitive agreements for the acquisition of American Zinc Recycling Corp. for a purchase price of USD 450 million
• Acquisition funded by capital increase from existing authorized capital and pre-approved term loan B add-on, maintaining Befesa's leverage ratio and continued financial strength
• Offering up to c. 5.9 million shares to institutional investors by way of an accelerated book building process commencing immediately
• Transaction expected to close in Q3 2021

Befesa S.A. ("Befesa") has signed definitive agreements with American Zinc Recycling LLC and Zinc Holdings USA LLC ("Sellers") to acquire all shares in U.S.-based company American Zinc Recycling Corp. ("AZR") for a purchase price of USD 450 million (subject to customary adjustments). Through the acquisition of AZR, Befesa will become a global leader in EAFD recycling with a balanced footprint across Europe, Asia and the US with 12 facilities offering c. 1.7 million tonnes of steel dust processing capacity per year.

As part of the agreements, Befesa will also acquire a minority stake of 6.9% of the equity interests in American Zinc Products LLC ("AZP"), AZR's zinc refining subsidiary, for USD 10 million with the option to acquire the remaining 93.1% of the equity interests in AZP for a consideration of USD 135 million (subject to customary adjustments), plus an additional earn out in an amount of up to USD 29 million. The Sellers have a corresponding put option against Befesa. Befesa will also assume, in line with its ownership stake in AZP, a portion of a loan of USD 50 million from the Sellers in connection with the acquisition of AZP. The acquisition of the remaining 93.1% in AZP and the potential earn out payment depend on the fulfilment of certain operational and financial milestones by AZP prior to 31 December 2023. The milestone consideration as well as the earn out will be payable in cash or Befesa ordinary shares at the option of the Sellers.