The European Commission's (EC) antitrust authorities granted Europe's largest copper smelter Aurubis unconditional approval for the ?,?380 million ($417 million) acquisition of Belgian-Spanish recycler Metallo Group, the company said on Monday May 4.
The transaction will formally close on May 29, with Metallo's consolidation into Aurubis taking place on June 1. The investment firm TowerBrook Capital Partners remains the majority owner of Metallo at present.Aurubis produces more than a million tonnes per year of copper products, while according to the International Tin Association, Metallo Group produced some 9,300 tonnes of refined tin in 2019, making it...