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Photo Credit: EcoPro Materials |
[Alpha Biz= Kim Jisun] EcoPro Materials announced on Thursday that it will invest 53.3 billion KRW in PT. Green Eco Nickel, an Indonesian nickel MHP refining company. This investment represents 6.7% of EcoPro Materials' equity capital, and after the investment, the company will hold a 28% stake in PT. Green Eco Nickel.
According to the terms of the agreement, if PT. Green Eco Nickel fails to meet production conditions, EcoPro Materials will have the option to exercise a put option at the acquisition price for its holdings. Additionally, if the counterparty violates significant terms of the contract or faces financial risk situations (such as insolvency), EcoPro Materials can exercise the put option on its holdings at the acquisition price plus an annual interest rate of 5.5%.
EcoPro Materials explained that the purpose of the investment is to "diversify its business through upstream expansion and enhance cost competitiveness in the precursor business."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
