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COMPLETION OF MERGER CONTROL DIVESTMENTS

RHI Magnesita N.V. (LSE: RHIM), a global leading supplier of refractory products, systems and services, announced the completion of its merger control divestments for a consideration of €42.6m on 30.Nov.2017.
As previously disclosed, on June 28, 2017, the European Commission approved the combination of RHI AG and Magnesita Refratarios S.A. (“Magnesita”), subject to the divestment of (i) RHI AG’s entire dolomite business (including production and sale) in the European Economic Area (“EEA”), which concerned the production sites in Marone (Italy) and Lugones (Spain); and (ii) Magnesita’s production, sale, and related activities of magnesia-carbon bricks in the EEA, concentrated in Oberhausen (Germany).

On September 8, 2017, RHI AG and Magnesita agreed to sell these plants to INTOCAST Aktiengesellschaft Feuerfest-Produkte und Gießhilfsmittel for €42.6m. The disposal was subject to, among other conditions, buyer approval by the European Commission, which has now been obtained. €40.0m is payable upon completion and €2.6m will be paid on the second anniversary of the closing date.
The proceeds from the sale will be used to further reduce the Company’s net debt.

About RHI Magnesita
RHI Magnesita is the result of the combination of RHI and Magnesita to form the global leading supplier of high-grade refractory products, systems and services which are indispensable for industrial high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals, and glass, among others. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves more than 10,000 customers in nearly all countries around the world.
The Company has unmatched geographic diversification with more than 14,000 employees in 35 main production sites and more than 70 sales offices. RHI Magnesita intends to use its global leadership position in terms of revenue, greater scale, complementary product portfolio and diversified geographic presence around the world to target opportunistically those countries and regions benefitting from more dynamic economic growth prospects.
For more information please visit: www.rhimagnesita.com

01.12.2017, RHI Magnesita N.V.

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