Nov 2024 Financial News

ANSA McAL Limited - Execution of Credit Agreement and Acquisition of BleachTech LLC

Nov 07, 2024

On 22nd May 2024, ANSA McAL Limited (“ANSA McAL”) entered into a Securities Purchase Agreement, for the purchase of all of the equity interests of BLEACHTECH, an Ohio limited liability company, LDJ Petersburg LLC, a Virginia limited liability company (“Petersburg”), LDJ Seville Ltd, an Ohio limited liability company (“Seville”), and LDJ Peru LLC, an Illinois limited liability company (“Peru”) through its indirect wholly owned subsidiary ANSA Chemicals US LLC, for the purchase price of Three Hundred and Twenty-Seven Million United States Dollars (USD 327 million) (“Transaction”).

BLEACHTECH is a market-leading producer of high purity bleach, hydrochloric acid and caustic soda and serves the municipal and industrial potable and wastewater treatment sectors across the mid-west and mid-Atlantic USA. Petersburg, Seville and Peru are real estate companies (the “Real Estate Companies”) in the USA.

On 1 st November 2024, the Transaction was completed having previously received the requisite regulatory approvals from the United States of America Federal Trade Commission and the Committee on Foreign Investment in the USA. The financing for the Transaction was contemporaneously completed in the USA. On 1 st November 2024, ANSA McAL, as guarantor, and ANSA Chemicals US LLC, as borrower, together with other guarantors entered into two loan agreements (the “Loans”) in the aggregate sum of Two Hundred Million United States Dollars (USD200,000,000.00) which were both arranged in USA. The Loans are secured by the acquisition assets and guaranteed by ANSA McAL and two of its subsidiaries ANSA McAL Chemicals Limited and ANSA Chemicals Holdings Limited.

The proceeds of the Loans have been used to fund the acquisition of BLEACHTECH and the Real Estate Companies.

Source:
The Trinidad and Tobago Stock Exchange Limited
Thursday  7th November, 2024