RHI AG, a global leader in refractories, merged with Brazil’s Magnesita Refratários S.A. at the end of October giving birth to a global leader in the refractory products sector, with € 2.5 bn revenues (pro forma 2016). The European Commission approved the concentration subject to conditions including the sale of RHI’s entire business in the European Economic Area for refractory products made from dolomite.
In the auction sale, Intocast AG from Ratingen, Germany, was the successful bidder to whom the business went following EC approval. The transaction included the sale of RHI’s Italian subsidiary Dolomite Franchi S.p.A.
RHI AG was advised by Martin Hartl and Giuseppe Coco, respectively of counsel and partner of Ughi e Nunziante.