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Apram confirms “very early” talks with Acerinox for merger

supreme ha Confirmed that it has “recently” entered into “very preliminary” talks with Acerinox regarding a possible merger operation between…

By admin , in news , at June 3, 2022

supreme ha Confirmed that it has “recently” entered into “very preliminary” talks with Acerinox regarding a possible merger operation between the two groups, although it has stressed that “there is no certainty that such an agreement will be made”. or if so, in what period”.

In a statement, stainless steel producers isolated from ArcelorMittal He indicated that these talks are “in an early stage and no agreement has been reached on the scope, structure or terms of any possible transaction”, adding that he will “notify the market as necessary”.

Rumors

When the market opens, national stock market commission (CNMV) has decided to temporarily suspend business between Acerinox and Aperam with immediate effect due to rumors of a possible merger.

As reported by ‘Bloomberg’ agency this Thursday, Apparum is exploring a possible settlement Fusion With the Spanish Acerinox, which will create a new European giant in the metallurgical sector.

In any case, he insisted that the decision had not yet been made, so it was not certain that such Combination is about to be done.

two years ago, The European Commission Decided to forbid the creation of a ‘joint venture’ between Tata Steel and ThyssenKrupp to consolidate their steel business in Europe.

As of yesterday’s market close, Acerinox’s value is €3.3 billionWhereas the price of Appram is around 3.1 billion. While the price of Acerinox is at an all-time high in the past five years, Apram’s price is down nearly 30% from its high at the beginning of the year.

The Mittal family is the main shareholder of the steel giant ArcelorMittal, which controls about 40% of the voting rights of Apram. Meanwhile, Corporación Financiera Alba is the main shareholder of Acerinox, accounting for about 18% of its capital.

Acerinox closed the stock market this Thursday at a price of 12.19 euros, with shares up nearly 7% so far in 2022. for their share, aparamo They are listed for 38.92 euros.

Apram confirms “very early” talks with Acerinox for merger

2022-06-03 08:37:15