EANS-Adhoc: RHI AG / RHI signs contract to acquire a raw material plant and mining rights in Turkey

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Mergers - Acquisitions - Takeovers 07.04.2014

Magnesit Anonim Sirketi, a Turkish subsidiary of RHI AG, today signed a contract with the Cihan Group regarding the acquisition of a raw material plant and mining rights in Erzurum, Turkey. The purchase price agreed amounts to USD 30 million; in addition, a debtor warrant of up to USD 16 million was agreed upon, which depends on the raw material quantities and qualities. The entire transaction is subject to the approval of the first instance of the competent civil court and the competent administrative authorities, both in Turkey, as well as to meeting further contractual conditions.

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(END) Dow Jones Newswires

   April 07, 2014 14:06 ET (18:06 GMT)- - 02 06 PM EDT 04-07-14