TowerBrook Capital Partners has agreed to sell Metallo, a Belgian-Spanish metals recycling company, to Aurubis. No financial terms were disclosed. The deal is expected to close toward the end of the year.
May 22, 2019
TowerBrook Capital Partners today announces that it has signed an agreement with Aurubis AG, Hamburg, for the disposal of Metallo Holdings 3 B.V., (“Metallo”), the Belgian-Spanish non-ferrous metals recycling Group.
Metallo is a recycling and refining company with around 530 employees at its main sites in Belgium and Spain. In the fiscal year 2018, Metallo generated revenues of approximately EUR 985 million. With the transaction, Aurubis continues to actively pursue its multi-metal and recycling strategy.
The closing of the transaction is subject to clearance by the responsible merger control authorities and is expected to take place towards the end of the year. The Supervisory Board of Aurubis AG has already approved the transaction.