Press Metal closes $300m facility for stake in BAI

In:

Metals and Mining

Region:

Asia-Pacific

By Aife Howse

Malaysian-based aluminium company Press Metal has closed a $300 million dual-tranche Islamic financing to partially back its acquisition of Bintan Alumina Indonesia (BAI). Press Metal’s agreed to acquire a 20% stake in BAI for $80 million in November 2019.The deal comprises a $30 million...

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