PARIS (Agefi-Dow Jones) – The steel producer Aperam announced Monday that it has finalized the takeover of the group specializing in the recycling of steel scrap ELG from the German investment company Franz Haniel & Cie.
“The acquisition of ELG has received all the necessary regulatory approvals and will strengthen Aperam’s competitiveness and its position as an industry leader in Environment, Social and Governance,” the group said in a statement.
The transaction was carried out on the basis of an enterprise value of 357 million euros for 100% of the capital of ELG, of which the adjusted gross operating profit is expected to be around 65 million euros. this year, after reaching 55 million euros in 2020.
“Minimum synergies of 24 million euros are expected within three years, with potential for further improvement,” Aperam added.
ELG will be fully consolidated in the Aperam group from December 31, 2021 in a new segment which will be called Recycling.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0) 1 41 27 47 31; [email protected] ed: LBO
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December 27, 2021 07:57 ET (12:57 GMT)