29 JANUARY 2015AlCircle.com
GE Capital aids Constellium for the acquisition of Wise
Edited by : AL CIRCLE
1 min read
Constellium NV is to get a $400-million credit facility from GE Capital Corp to help fund the acquisition of Wise Metals Intermediate Holdings LLC.
The group treasurer for Constellium, Mark Kirkland says, "GE Capital’s relationship with Wise and understanding of the metals industry made them a strong partner for our lending needs." He believes that working with someone who has experience in the metal industry is a huge advantage that will help them grow as well.
Constellium has already completed the acquisition of Muscle Shoals, Alabama-based Wise Metals this month, a move that will widen the company’s horizons giving it more exposure in the North American aluminium sheet market.
The acquisition of Wise Metals was announced in October by the Netherlands-based Constellium, quoting a deal of $1.4 billion with $455 million cash payment and $945 million assumed in existing debt obligations. Constellium plans to invest an additional $750 million by 2022 to boost Wise’s capacity.
The group treasurer for Constellium, Mark Kirkland says, "GE Capital’s relationship with Wise and understanding of the metals industry made them a strong partner for our lending needs." He believes that working with someone who has experience in the metal industry is a huge advantage that will help them grow as well.
Constellium has already completed the acquisition of Muscle Shoals, Alabama-based Wise Metals this month, a move that will widen the company’s horizons giving it more exposure in the North American aluminium sheet market.
The acquisition of Wise Metals was announced in October by the Netherlands-based Constellium, quoting a deal of $1.4 billion with $455 million cash payment and $945 million assumed in existing debt obligations. Constellium plans to invest an additional $750 million by 2022 to boost Wise’s capacity.
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