RHI Magnesita N.V. acquired Seven Refractories d.o.o. and Seven Refractories Deutschland GmbH and RHI Magnesita Seven Refractories from Seven Refractories GmbH.
July 16, 2023
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RHI Magnesita N.V. (LSE:RHIM) agreed to acquire Seven Refractories d.o.o. and Seven Refractories Deutschland GmbH and RHI Magnesita Seven Refractories from Seven Refractories GmbH for ?93 million on April 21, 2023. RHI Magnesita N.V. will acquire 100% stake in Seven Refractories d.o.o., RHI Magnesita N.V. will acquire 75.5% stake in Seven Refractories Deutschland GmbH and RHI Magnesita N.V. will acquire the remaining 49% stake in RHI Magnesita Seven Refractories Limited. The Acquisition will be funded from RHI Magnesita's existing committed and undrawn facilities and cash. The businesses to be purchased in the Acquisition recorded revenues of ?105 million, Total assets worth ?86.7 million in December 31, 2022. The acquisition is subject to fulfilment of customary regulatory approvals, standard closing conditions including competition authority clearance and is expected to complete in the second half of 2023. Markus Piuk, Alfred Amann, Tatiana Iurkovska, Tobias Hayden and Marco Thorbauer of Schönherr Rechtsanwälte Gmbh acted as legal advisor to Seven Refractories GesmbH. Albert Birkner, Wolf-Posch and Michael Mayer of Cerha Hempel Spiegelfeld Hlawati acted as legal advisor to RHI Magnesita N.V. (LSE:RHIM). BDO Consulting Private Limited acted as Tax Advisor to RHI Magnesita N.V. (LSE:RHIM).
RHI Magnesita N.V. (LSE:RHIM) completed the acquisition of Seven Refractories d.o.o. and Seven Refractories Deutschland GmbH and RHI Magnesita Seven Refractories from Seven Refractories GmbH on July 17, 2023. Roman Rericha of Brandl & Talos Rechtsanwälte GmbH acted as legal advisor to Seven Refractories GesmbH. Simon Schmid of Clifford Chance, Düsseldorf acted as legal advisor to RHI Magnesita N.V.
RHI Magnesita NV, formerly Rhi Mag NV, is an Austria-based company engaged in the refractory industry along the whole value chain. The Company mines, produces and sells high-grade refractory products, which are used for industrial high-temperature processes in a wide range of industries, including steel, cement, non-ferrous metals, glass, and energy, environment and chemical. The Company offers over 120,000 products made from magnesite and dolomite, ranging from bricks and lining mixes to flow control products, such as slide gates, nozzles and plugs. The Company operates over 35 production and raw material sites, a number of technology centers, including in Austria, Brazil, China and the United States, as well as over 70 sales offices around the world. In addition to the sale of refractory products and services, the Company sells certain industrial minerals, the mining and production of which are incidental to its production of refractory products.
RHI MAGNESITA N.V. 
