FLSmidth get crucial clearances in acquisition of thyssenkrupp

FLSmidth said that it’s takeover of thyssenkrupp’s mining business, which it first announced last July, has now gained the regulatory clearances of the authorities in Australia, South Africa, Peru and Chile.

The new approvals are in addition to those already received from Canada and Morocco. FLSmidth said all of its clearances to date have been “without imposition of any competition related remedies.”

The $308.3 million deal for the arm, which is known as TK Mining, is still awaiting authority approvals as well as the satisfaction of conditions in the sale and purchase agreement. If all else goes well, it expects the transaction will close during the second half of this year.

“Receiving regulatory clearances in such important mining countries – from both a mine production and a customer standpoint – marks a significant milestone in our journey to complete our acquisition of thyssenkrupp’s mining business,” FLSmidth Group CEO Mikko Keto said.

“The acquisition will contribute to FLSmidth’s ambition to strengthen our pit-to-plant service and equipment solutions, further improving what we can offer our customers.”

Source: FLSmidth

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