Tega, Apollo to acquire Molycop for $1.5 bn in global expansion
Tega Industries and Apollo Funds signed a term sheet to acquire mining consumables maker Molycop for $1.5 billion, with completion expected by year-end. Tega will hold a controlling stake, Apollo a minority. The deal expands Tega's footprint to 26 global plants and strengthens its mining consumables portfolio. Tega shares slipped 0.7% on Wednesday but are up 32.6% YTD.