Metlen Leads Race for Acquisition of Aluminium Dunkerque Amid Foreign Competitors
Greek industrial company Metlen is the only European bidder among six foreign competitors vying for Aluminium Dunkerque, Europe's largest aluminium smelter, with other bidders including EGA, Alba, a Japanese conglomerate, and Rio Tinto. The French state is actively supporting bidders amid concerns for job preservation and investment guarantees, as the sale is expected to yield over €1 billion. Metlen aims to significantly boost production through this acquisition, which aligns with its industrial partnerships and funding for new projects.
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Greek industrial company Metlen is the sole European contender among six foreign bidders for Aluminium Dunkerque, Europe's largest aluminium smelter. Other bidders include EGA from the UAE, Alba from Bahrain, a Japanese conglomerate, and Rio Tinto, which has faced backlash from labor unions.
The French state, through Bpifrance, is becoming actively involved in supporting bidders amid calls for job preservation and investment guarantees. Aluminium Dunkerque, formerly owned by Indian businessman Sanjeev Gupta, has seen increased investor interest following a power supply contract with EDF.
AIP expects sale proceeds over €1 billion, with valuations between €1.2 billion and €1.8 billion being reported. Metlen aims to increase its production significantly through this acquisition, which aligns with its existing industrial partnerships and funding for new projects. Binding offers are due by the end of February.
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