Minerals transactions

buyer Türk Maadin Sirketi A.S.
acquisition of a 99% stake
purchase price USD 0.5 million (about EUR 0.3 million)
Intermetal has altogether six chrome ore exploration and exploitation licenses with a total land area of about 5,000 hectares
The rationale of the transaction was to expand the Group's chrome ore reserves base in Turkey.

buyer Ruukki South Africa (Pty) Ltd
acquisition of an effective stake of 84.9%
total purchase price ZAR 2.0 billion (about EUR 174 million with the exchange rate at the closing); of the purchase price ZAR 1.2 billion million was paid in cash when the contract was closed, the balance of the consideration will be paid in cash over the next five years with ZAR 0.6 billion being conditional upon Mogale receiving certain operational permits
Mogale is engaged in minerals smelting operations in South Africa with end-products such as ferrochrome, silico manganese and stainless steel alloy
The acquisition expanded Ruukki’s minerals business into South Africa and to new products. Furthermore, the acquisition provided Ruukki with opportunities to pursue additional acquisitions in various minerals and alloys operations.

acquisition of a 100.0% stake in RCS and a 98.7% stake in TMS, seller a major shareholder of Ruukki Group Plc
purchase price EUR 80 million paid in cash at the closing, potential additional earn-out purchase consideration, payable in Ruukki Group Plc shares, 50% of the combined net profit of RCS and TMS covering financial years 2009–2013 (capped at EUR 150 million)
at the same time RCS entered into a long-term toll manufacturing agreement with the German smelting company Elektrowerk Weisweiler GmbH
RCS performs trade on ferrochrome products and related products and materials in Malta; TMS runs chrome ore mining and extractive business in Turkey
The transaction diversified Ruukki’s businesses geographically and represents a move into a new industry.