Tega Industries to Acquire Molycop for USD 1.45 Billion, Marking a Significant Milestone in its Corporate Journey

Tega Industries Limited, a leading designer and manufacturer of consumables for the mining, mineral processing and material handling industries, has entered into a definitive agreement with an affiliate of funds managed by American Industrial Partners (AIP) to acquire Molycop, a leading global supplier of grinding media for the mining industry. The acquisition, valued at approximately USD 1.45 billion, will be alongside funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO). The completion of the transaction is subject to customary closing conditions, including receipt of required regulatory approvals. Upon closing, Tega will become a leading player in the sector, operating an extensive manufacturing platform comprising 26 manufacturing facilities across the globe and gaining access to an expanded customer base. The company has also successfully completed a fundraise by way of a preferential issue of equity shares, raising approximately INR 1,713 crores.