Mergers & Acquisitions ·
Elmet Group Co. agrees to acquire 4.99% stake in Masan High-Tech Materials for $124.75M
ELMTElmet Group Co.
The Elmet Group Co. entered into a Share Purchase Agreement with Masan Horizon Company Limited to acquire a 4.99% interest in Masan High-Tech Materials Corporation for approximately $124,750,000. The transaction involves the purchase of 55,138,174 ordinary shares and is expected to close on October 1, 2026, with settlement on October 5, 2026. Elmet will receive one board seat at Masan and has secured long-term supply agreements for tungsten concentrate and conversion services. The deal includes a $24,950,000 break fee if the transaction fails to close due to material breach. This strategic investment strengthens Elmet's position in the critical materials sector by securing upstream tungsten supply.