KME Recycle S.p.A., based in Florence, Italy, has announced that it has acquired a 10 percent stake in the France-based firm Alumetali S.a.S (Valika). The acquisition follows two other transactions KME completed last year that allowed the company to diversify its operations with activities upstream from its traditional industrial businesses.
KME says its stake in the company will create a European network of companies engaged in the recycling, processing and sale of ferrous and nonferrous scrap.
This deal is KME’s third equity investment in companies active in the metal distribution business in the past year as well as its first outside Italy. KME’s two purchases in 2009 included a 30 percent stake in the Italian firm Sigimet S.p.A. and a 30 percent stake in Metabuyer S.p.A., also based in Italy.
The most recent transaction includes two options with predetermined terms and conditions, which, if exercised, would enable KME Recycle S.p.A. to achieve 51 percent ownership of Alumetali S.a.S.
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