BRUSSELS Private equity firm TowerBrook Capital Partners LP has received European Commission approval on its buy of Luxembourg-based Metallum Holding SA.
The commission, acting as the European Unions senior competition regulator, fast-tracked the deal without imposing any conditions on its approval, noting that there were no links between Metallums business activities and those of TowerBrooks existing portfolio.
Metallum recycles, processes and trades nonferrous metals and refines copper scrap to produce copper cathodes and related by-products. It owns Belgiums Metallo Chimique NV, a market leader in the European copper and tin secondary refining market, and Swiss recycler Metallum Group (Schweiz) AG, which operates in Europe, Asia and the Middle East.
TowerBrook, New York, will be the sole owner of Metallum via a special purpose company set up for the deal.
A version of this article was first published in AMM sister publication Metal Bulletin.