B2B Portal for Technical and Commercial Foundry Management
Languages
Foundry Daily News

EU inquiry deadline for Norddeutsche Affinerie buy ofCumerio is Sept 9

The European Commission said the deadline for its inquiry into German copper group Norddeutsche Affinerie AG's (NA) buy of Belgian peer Cumerio is set for Sept 9.

NA has said it is not clear 'whether and when' it will come to an agreement with A-TEC Industries AG, the Austrian industrial group that has acquired a stake in Cumerio large enough to block NA's planned purchase of the Belgian copper maker. 

A-TEC has acquired 15 pct in NA and 25.01 pct of shares in Cumerio.

NA's agreed 30 eur a share takeover bid for Cumerio is conditional on shareholders representing at least 80 pct of shares accepting the offer, which is not possible unless A-TEC cuts its stake or tenders its shares.

Youtube Linkedin Xing