RHI Magnesita buys Indian refractory business
RHI Magnesita N.V. (DI)
2,224.00p
16:40 27/03/23
0.63%
14.00p
RHI Magnesita said it had bought the Indian refractory business of Dalmia Bharat Refractories in a share swap agreement.
FTSE 250
18,529.62
17:14 27/03/23
n/a
n/a
FTSE 350
4,113.29
17:14 27/03/23
n/a
n/a
FTSE All-Share
4,071.07
17:04 27/03/23
n/a
n/a
Industrial Engineering
14,515.65
17:14 27/03/23
0.82%
118.74
The deal will see RHI take on the business in exchange for 27 million shares in its 70%-owned India-listed subsidiary of the group valued at around €212m.
Following completion, the group's shareholding in RHI Magnesita India will fall to 60.1% and the Dalmia Bharat Group and minority shareholders in DBRL will hold a combined 14.4% stake.
Reporting by Frank Prenesti for Sharecast.com