RHI AG and RHI Magnesita merger set for 26 October

The merger of RHI AG with its wholly-owned subsidiary RHI Magnesita NV should become effective on 26 October 2017. Upon such effectiveness, RHI AG will cease to exist as legal entity.

The Dutch Authority for the Financial Markets (AFM) has approved the prospectus for admission to listing of RHI Magnesita shares on the Premium Listing segment of the Official List of the UK Financial Conduct Authority and to trading on the London Stock Exchange’s Main Market for listed securities.
 
Accordingly, the last day of trading of RHI AG’s shares on the Vienna Stock Exchange will be 25 October 2017.
 
Stefan Borgas, CEO of RHI and designated CEO of RHI Magnesita, comments: "This merger of equals will result in the global leader in refractory products. The combined know-how of the companies means that we can offer our customers a more comprehensive range of services and solutions with a distinctive value proposition based on innovation. Today's announcement is another key milestone of the merger and we are looking forward to the closure of the transaction and subsequent listing in London, after which time our focus will be on delivering synergies and operating the combined business to generate strong cash flow."
 
Based on the financial statements for the year 2016, the combined revenue of RHI and Magnesita amounted to approximately EUR2.5bn (US$2.9bn).