Estonia, Investments, Markets and Companies, Mergers and take-overs, Metals Market

International Internet Magazine. Baltic States news & analytics Thursday, 20.06.2013, 00:11

Molycorp becomes sole owner of Silmet

Juhan Tere, BC, Tallinn, 24.10.2011.Print version
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U.S. rare earths producer Molycorp announced on Monday that it acquired the last 10% of Tiit Vähi’s company Silmet Grupp, LETA/Postimees Online reports.

Molycorp announced that Silmet’s council chairman Tiit Vähi and his son-in-law Lauri Karp, who were involved in managing the company, will continue in the company’s council.

 

Molycorp bought 90.023% of Silmet on April 1 this year for 89 million USD. The value of the remaining shares was proportional to the first transaction sum, the company said.




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