Aperam S.A. completed the acquisition of ELG Haniel GmbH from Franz Haniel & Cie. Gmbh.
December 27, 2021
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Aperam S.A. (ENXTAM:APAM) signed a share purchase agreement to acquire ELG Haniel GmbH from Franz Haniel & Cie. Gmbh for an enterprise value of approximately 360 million on May 6, 2021. ELG will be acquired as a complete group and continue to operate as a fully separate company. ELG will be consolidated into Aperam Group under a new segment Recycling. In the year ended December 31, 2020, ELG Haniel GmbH generated adjusted EBITDA of 55 million. The transaction is subject to customary regulatory approvals. The transaction is expected to be completed during the second half of 2021. As of November 26, 2021, EU commission approved the transaction. As of December 27, 2021, all necessary regulatory approvals required for the acquisition of ELG have been obtained, without conditions. The transaction is expected to be value creative from year 1 and executed in line with Aperams financial policy. Total minimum synergies of 24 million are expected within three years. Deutsche Bank Aktiengesellschaft (XTRA:DBK) acted as financial advisor to Aperam S.A. and Stephan Goetz, Jan-Hendrik Röver, Gerwin Weidl, Philipp Jaeck, Evgeny Savin, Gerrit Schütte, Alexander Reitmann, Florian Schlindwein and Edwin Steffan of goetzpartners Group GmbH & Co. KG acted as due Due Diligence advisors to Franz Haniel & Cie. Gmbh. Kristina Klaaßen-Kaiser, Arnaud Coibion and Bernd Meyring of Linklaters LLP acted as legal advisor to Aperam S.A. Boris Blunck, Neil Bowden, Ellen Braun, Paul Burns, Inigo del Val, Goran Galic, Daniel Guyder, Xavier Jancène, Brian Jebb, Lisa Jiang, Hartmut Krause, Katinka Middelkoop, Tim Müller, Taro Nakashima, Udo Herbert Olgemoeller, Olivier Picquerey, Ken Rivlin, Arthur Sauzay, Juergen Schindler, Laura Thiel, Heike Weber, Jan Erik Windthorst, Alexander Wüpper and Maria Christopher Bell of Allen & Overy acted as legal advisors to Franz Haniel & Cie. Gmbh.
Aperam S.A. (ENXTAM:APAM) completed the acquisition of ELG Haniel GmbH from Franz Haniel & Cie. Gmbh on December 27, 2021.
Aperam S.A. is a steelmaking group organized into 4 areas of activity:
- production of stainless steel and electrical steel (34.9% of net sales): stainless flat and long products, precision stainless strips, ferrous products, polished annealed products, wires, grain-oriented and non-grain-oriented electrical steels, etc.;
- transformation and distribution of steel products (32.9%);
- recycling services (19%). In addition, the group produces charcoal;
- production of nickel alloys and stainless steel specialty products (13.2%).
The group's products are intended primarily for the aerospace, automotive, restoration, construction, home appliance, and electrical engineering sectors.
Net sales are distributed geographically as follows: Europe (60.1%), Americas (31.1%), Asia and Africa (8.8%).