10th Apr 2019 15:23
LONDON (Alliance News) - Refractory product maker RHI Magnesita NV on Wednesday said it now holds 100% of the total share capital of Brazilian subsidiary Magnesita Refratarios SA.
The redemption of any outstanding shares in Magnesita Refratarios was approved at an extraordinary general meeting in March and additional valid acceptances have been received from holders of 6,925 Magnesita Refratarios shareholders. All remaining shareholders who did not take part in the integrated tender offer have also had their shares redeemed.
During the offer, valid acceptances were received from holders of 23.8 million Magnesita Refratarios shares and 4.7 million new RHI Magnesita shares were issued. The total cash payment made to Magnesita Refratarios minority shareholders came to around EUR120 million, which was "in line with expectations".
The total number of RHI Magnesita ordinary shares is now 49.5 million.
Shares in RHI Magnesita were down 0.8% at 4,781.00 pence on Wednesday afternoon.
Related Shares:
RHI Magnesita