ELG´s shareholder Franz Haniel & Cie GmbH has signed a Share Purchase Agreement with Luxembourg-based steel producer Aperam S.A. to sell ELG.
ELG will be sold as a complete group and continue to operate as a fully separate and independent company. The transaction is subject to regulatory approvals and expected to close in the second half of 2021.
Once regulatory approvals are complete, Aperam intends to operate ELG as a fully separate and independent company. ELG will continue to serve all of its customers in their best interests. Our current focus is to ensure continuity of service to our suppliers and customers as well as maintaining our excellent quality of supply. For our suppliers, we will continue to be a reliable purchaser of scrap.
We are looking forward to continuing our business with you in these new circumstances and striving to develop our relationship further.