RHI Magnesita buys Indian refractory business
RHI Magnesita N.V. (DI)
3,515.00p
10:04 26/04/24
0.14%
5.00p
RHI Magnesita said it had bought the Indian refractory business of Dalmia Bharat Refractories in a share swap agreement.
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13,493.01
10:00 26/04/24
0.75%
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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