France’s Imerys to absorb Greek’s S&B Minerals, excluding bauxite operations

Imerys, a world leading industrial minerals company has signed an absorption deal on Thursday, for the Greek company called S&B Industrial Minerals. The deal is supposedly one of the biggest international mergers in the history of Greek industry.

The deal is said to be worth 558 million euros according to Imerys’ statement in bourse filling from Paris. After the deal comes through, S&B will be controlling 4.5% of the Imerys and the Chairman of the Greek company, Ulysses Kyriakopoulos will become a part of Imerys governing board.

Imerys said the deal represented a “strategic combination for the integration of the main activities of S&B,” while Kyriakopoulos told Kathimerini on Wednesday that the absorption of S&B will not affect the Greek firm’s bauxite activity.

Kyriakopoulos says that the activities in Greece will function normally as before and the company operations will not be affected. He also adds that the bauxite operations would not be a part of the absorption.