IN BRIEF: Majestic Corp buys fellow recycler Telecyle; hires director
5th Sep 2024 13:58
Majestic Corp PLC - Deeside, Wales-based recycler of precious and non-ferrous metals from used electronics and batteries - Agrees to buy Telecycle Europe Ltd, a recycling peer also based in Deeside. Majestic will pay up GBP2 million in cash. The deal is conditional on Telecyle delivering an agreed quantity of containers of recyclable materials by the end of December. The agreement is a related-party transaction, as Peter Lai, the 72% owner of Majestic, is the sole owner of Telecycle, which recorded GBP175,000 in profit after tax in calendar 2023. Read More