Tega Industries Completes Molycop Acquisition for $1.5 Billion

Tega Industries Limited, in consortium with Apollo Funds, has successfully completed the acquisition of Molycop, a global supplier of grinding media for the mining industry. The transaction was valued at an enterprise value of approximately USD 1.5 billion. This acquisition marks a significant milestone for Tega, especially in its 50th anniversary year, positioning the combined entity as a leading global designer and manufacturer of critical consumables for the mining sector. The integration is expected to enhance Tega's product portfolio, expand its global manufacturing footprint to 26 sites, and offer comprehensive mill optimization solutions to customers worldwide. Tega will be the controlling shareholder, with Apollo Funds holding a significant minority stake.