Montreal-based metals producer, 5N Plus, will purchase Belgium’s MCP Group, for $323.1 million in a cash-and-stock deal, Reuters reports. 5N Plus will pay $146 million in cash, a promissory note of $85.33 million and about 11.4 million common shares to vendors as per the deal, which is expected to close in mid-April.
5N Plus, which will also assume MCP’s debt of about $90.2 million, will finance the cash consideration with a combination of cash on hand and new credit facilities of $144.11 million committed by National Bank Financial, which is the adviser to the deal. MCP’s co-CEO, Frank Fache, will join the 5N Plus board.
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