MFC Industrial to acquire FESIL Group for $82M, shares +6% premarket

|About: MFC Bancorp Ltd. (MFCB)|By:, SA News Editor

MFC Industrial (MIL) agrees to acquire ferrosilicon producer FESIL Group for ~NOK500M ($82M) plus a royalty based on tiered ferrosilicon production at the Mo i Rana facility for two years.

Annual capacity of the plant's two furnaces is ~80K metric tons of ferrosilicon and 23K metric tons of microsilica.

MIL says the deal is not expected to have a material effect on its financial ratios or cause any dilution to shareholders' equity.

Shares +6% premarket.