HAMBURG (dpa-AFX) - Aurubis AG (AIAGY.PK, AIAGF.PK) has reached an agreement with Metallo Holdings 3 B.V. for the acquisition of Metallo Group. The enterprise value for the deal is 380 million euros.
Metallo is a recycling and refining company with sites in Belgium and Spain. It specializes in recovering non-ferrous metals. In fiscal 2018, Metallo reported revenues of approximately 985 million euros.
Aurubis plans to continue its recycling strategy with the announced acquisition. The deal is expected to complete by the end of the year.
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