Luxembourg, 14 February 2023 – In light of the business review which has been recently conducted and the expiry of a period of exclusivity agreed between the Metalcorp Group S.A. (the “Company” and together with its subsidiaries the “Metalcorp Group”) and certain holders of its 8.5% notes due 2026 (the “Ad Hoc Group”), during which the Company and some members of the Ad Hoc Group held talks on a proposal for a financing of around EUR 115 million, and taking into account its strategic objectives, the Company has concluded that it is appropriate to review strategic options in respect of certain investments and to its current capital structure.
To assist in the consideration of strategic alternatives, Perella Weinberg Partners (“PWP”) has been retained to act as financial advisor to the Company and other members of the Metalcorp Group. As part of that review, PWP will explore strategic alternatives including financing and assets disposals. In relation to financing offers received before the end of May 2023, the Ad Hoc Group have retained the ability to provide financing if the Company considers their terms are better than alternative financing proposals received within that period.
Metalcorp Group’s operational entities continue to see strong business momentum and remain fully funded with additional liquidity expected as shipping of Bauxite has commenced.
The Company will provide further updates as this process develops and has made available a cleansing presentation which includes a financial update and additional information on its website: https://metalcorpgroup.com/wp-content/uploads/2023/02/Metalcorp-Group-Financial-Update-14.02.2023.pdf
About Metalcorp Group S.A.:
Metalcorp Group is a diversified global service provider in the metals and minerals industry including procurement, marketing, mining and processing of such products. The company’s divisions are aluminium, metals and concentrates, bulk and ferrous. The 2021/2026 bond (ISIN: DE000A3KRAP3) and the 2017/2023 bond (ISIN: DE000A19MDV0) are traded on the Open Market of Deutsche Börse AG (“Freiverkehr” of the Frankfurt Stock Exchange).
For further information:
Frank Ostermair, Linh Chung
+49 89 8896906-25
metalcorp@better-orange.de
Metalcorp Group S.A.
Anouar Belli
+352 2799 0145 55
abelli@metalcorpgroup.com