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MFC Industrial Ltd to acquire FESIL Group


Friday, 17 Jan 2014 06:30am EST 

MFC Industrial Ltd:Enters into an agreement to acquire a 100 pct interest in the FESIL AS Group (FESIL), a vertically integrated supply-chain management company.MFC will not acquire FESIL's Mo Industripark AS shares.The purchase price of about 500 million Norwegian Krone (about $82 million) is based on the net tangible equity asset value as of Sept. 30, 2013.In addition to the purchase price, MFC will pay a royalty based on tiered ferrosilicon production at the Mo i Rana facility for two years, expected to equal approximately 2.9 pct of ferrosilicon revenue per annum at full production. 

Company Quote

4.05
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30 Jun 2015