Elmet Group to Acquire 5% Stake in Masan High-Tech Materials for $125M
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Elmet Group to acquire 5% stake in Masan High-Tech Materials for $125M
The Elmet Group (ELMT) announced a long-term strategic relationship with Vietnam's Masan High-Tech Materials Corporation ((MSR)) that includes acquiring a 4.99% equity stake in MSR for $124.75M. The transaction formalizes a 12-year commercial relationsh
Elmet to Acquire 4.99% Masan High-Tech Materials Stake in Tungsten Partnership
The Elmet Group Co. (Nasdaq: ELMT) has agreed to acquire a 4.99% stake in Masan High-Tech Materials Corporation at an... The post Elmet to Acquire 4.99% Masan High-Tech Materials Stake in Tungsten Partnership appeared first on citybiz.
Backed by $450M defense deal, US' Elmet acquires 5% in Vietnam's tungsten producer MSR
The Elmet Group, the U.S. tungsten producer that secured a $450 million investment from the U.S. Department of War in mid-September, will buy a 4.99 percent stake in Vietnam's Masan High-Tech Materials for $124.75 million, alongside a multi-year supply deal.
Elmet Group, a US-based materials manufacturing company and a partner of Masan High-Tech Materials for over 12 years, plans to acquire a 4.99% stake in MSR, equivalent to approximately $125 million.
The Elmet Group Co. to buy Masan stake for US$124.75M
The Elmet Group Co. (NASDAQ: ELMT) said Wednesday it agreed to pay US$124.75 million for 4.99 per cent of Vietnam's Masan High-Tech Materials Corporation, alongside tungsten supply agreements. The price is about 20 per cent of Elmet's US$626.86 million market value at Wednesday's 4 p.m. EDT Nasdaq close, according to the NASDAQ: ELMT quote page. Elmet shares fell 1.15 per cent to US$20.58 at the 4 p.m. EDT Nasdaq close on Wednesday, according to…
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