Acquisitions26 May 2026, 10:21 pm
John Cockerill India Revises Metals International Acquisition
AI Summary
John Cockerill India Ltd's board approved a material modification to the related party transaction involving the acquisition of John Cockerill Metals International SA from John Cockerill SA. The revised purchase price is €24.32 million, consisting of a €5 million cash payment by June 30, 2026, for 20.56% of Metals International shares, and the issuance of 35,185 Non-Cumulative Compulsorily Convertible Preference Shares (CCPS) at ₹58,028.60 per share for the remaining 79.44% stake, valued at €19.32 million. The board also approved the issuance of these CCPS on a preferential basis.
Key Highlights
- Revised purchase price for Metals International set at €24.32 million.
- €5 million cash payment due by June 30, 2026, for 20.56% stake.
- 35,185 CCPS to be issued for remaining 79.44% stake, valued at €19.32 million.
- CCPS priced at ₹58,028.60 per share, including a premium of ₹57,928.60.
- Board approved amendment to Share Purchase Agreement with JC SA.