The transaction follows AMG's strategy to expand its critical materials business while reducing net debt.
AMG Graphite is one of the world's leading graphite producing and refining companies, with mining activities in Germany, Africa and Asia, while Bogala Graphite Lanka PLC produces high quality natural vein graphite from its mine in Sri Lanka. With an 80% shareholding, AMG Graphite will remain the majority shareholder in Bogala Graphite Lanka PLC.
"Natural graphite has a high growth potential and we have to reposition our global value chain to benefit from this opportunity,” said Dr. Heinz Schimmelbusch, CEO of AMG. “We are pleased to have found a partner who shares our views and values.”
Growth strategy
"We are excited to partner with AMG and their management team to progress AMG Graphite's growth strategy,” said Roger Miller, managing partner of Alterna. “We believe AMG Graphite has demonstrated a strong track record of providing customers with high quality products and services and the Company is well positioned for continued growth.”