Speira all set to obtain EU antitrust approval for its Real Alloy Europe acquisition offer

A recent report from Europe indicates, that the private equity firm that has grown substantially over the past two decades, KPS Capital Partners, whose portfolio company Germany's aluminium smelter Speira ready to receive EU antitrust approval for its plan to acquire aluminium recycler Real Alloy Europe with its offer to sell two plants to address EU concerns.

The deal was announced in February by Speira, which owns the world's largest rolled aluminium finishing mill in Grevenbroich, Germany. Annually, the company produces about a million tonnes of aluminium-rolled products.

As a result of the deal, the company can use recycled metal to make low-carbon rolled aluminium products. In Germany, Norway, France and Britain, Real Alloy Europe has seven facilities and about 600 employees.

According to our report, Speira has offered to sell a plant in France and a Real Alloy Europe plant in Swansea, Britain, to ease competition concerns.  Speira declined to comment on the deal, which the EU competition enforcer scheduled to be decided by October 19.

In the aerospace and defence industries, as well as in automobiles and beverage cans, aluminium is widely used. High energy prices have driven up production costs.

Due to high power prices, Speira announced in September that it would cut aluminium production at its Rheinwerk plant by 50% in October.