The European Commission clears the acquisition of MKM by KME
Osnabrueck, 11th December 2018
Following up to our press release published on 7th July, KME AG is pleased to announce that we have received unconditional clearance from the European Commission for its proposed acquisition of 100% indirect interest in MKM Mansfelder Kupfer und Messing GmbH ("MKM"). Both KME and MKM are active in the European copper and copper alloy semi-finished product industry. The aim of the transaction is to strengthen the performances of both companies through the implementation of synergies. The future strategy will be focused on differentiating and specializing each of the relevant plants based on its specific production strengths. On 7th July 2018, we announced to have reached an agreement with European Acquisition Midco Limited for the acquisition of 100% indirect interest in MKM. After completion of the transaction, the new entity will combine a turnover of around € 3 billion, with around 4.900 employees. The Closing of the transaction will take place in the first months of 2019, as soon as the other condition precedents have been fulfilled.
Here below the link to the European Commission Press Release:
KME - Engineering Copper Solutions