Masan’s subsidiary, Mitsubishi Materials Corporation Group seal acquisition deal
The Masan High-Tech Materials Group (MHT) and the Japanese-based Mitsubishi Materials Corporation (MMC) signed a definitive agreement on May 30, with the latter fully acquiring the former’s member company of H.C. Starck Holding (Germany) GmbH (HCS) at a cost of 134.5 million USD.
Mitsubishi Materials Corporation will fully acquire H.C. Starck Holding (Germany) GmbH (HCS) at a cost of 134.5 million USD. (Source: Masan Group)
Hanoi (VNA) – The Masan High-Tech Materials Group (MHT) and the Japanese-based Mitsubishi Materials Corporation (MMC) signed a definitive agreement on May 30, with the latter fully acquiring the former’s member company of H.C. Starck Holding (Germany) GmbH (HCS) at a cost of 134.5 million USD.
The two sides will also enter into a long-term, win-win APT and tungsten oxide offtake agreement. As a part of the agreement, Masan is expected to retain its ownership in Nyobolt, a fast-charging Lithium-ion battery technology company based in the UK. Masan is also expected to retain potential monetary upside from future commercialisation of black mass technology intellectual property developed by the HCS.
The MMC’s acquisition of HCS plays to its strengths in the midstream and downstream tungsten value chain. It will provide the group with access to HCS’s production hubs in Europe, North America, and China as well as a comprehensive tungsten scrap recycling platform backed by proprietary intellectual property including 90 worldwide patents and another 53 patents in the application phase.
Transaction proceeds will be used to reduce MHT’s outstanding debt balance, consistent with targets set by its parent company – the Vietnamese conglomerate Masan Group. Masan anticipates a one-time profit of around 40 million USD from this deal and stands to benefit from a long-term increase in net after-tax profit of 20-30 million USD.
The transaction is expected ꦗto be comp⛎leted by the end of 2024, subject to internal approval decisions and regulatory clearance./.
Masan Group Corporation on April 23 announced that it has completed the mobilisation of 250 billion USD from Bain Capital, a leading global private investment firm with assets worth 180 billion USD under management.
At the Top 50 Corporate Sustainability Awards announcement event on June 29 in Ho Chi Minh City by “Nhip Cau Dau Tu” magazine, Masan Group was named winner in two categories: Sustainable Resource Management and Outstanding Risk Management Platform.
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