Umicore completes purchase of Kokkola from Freeport Cobalt

Belgian battery-materials manufacturer Umicore has completed its purchase of cobalt refining and cathode precursor activities in Kokkola, Finland, from Freeport Cobalt for $203 million.

The purchase is on a debt and cash-free basis and includes about $50 million of net working capital. It is anticipated that the acquisition will be earnings accretive from 2020 and value accretive from 2021, Umicore said on Monday December 2.
The purchase was announced in May this year.

Published

Charlotte Radford

December 02, 2019

11:23 GMT

London