Fady Wazni to wait longer on possible UMS takeover of Alteo

Fady Wazni to wait longer on possible UMS takeover of Alteo

The Marseille Commercial Court, which was due to examine the takeover of specialty alumina manufacturer Alteo on 17 November, has postponed the hearing to 8 December. Of the original eight candidates for the buyout only two remain, both with very different ideas for the factory’s future.

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            ▪ Fady Wazni to wait longer on possible UMS takeover of Alteo

▪ The Marseille Commercial Court, which was due to examine the takeover of specialty alumina manufacturer Alteo on 17 November, has postponed the hearing to 8 December. Of the original eight candidates for the buyout only two remain, both with very different ideas for the factory’s future.

https://www.jeuneafriquebusinessplus.com/en/806109/fady-wazni-to-wait-longer-on-possible-ums-takeover-of-alteo/

17/11/2020 at 19h55, by Jeune Afrique Business+, updated 18/11/2020

American investment fund HIG Capital, which bought Alteo from RioTinto in 2012 but filed for its  bankruptcy in December 2019, has thrown its support behind influential Franco-Lebanese businessman Fadi Wazni’s Guinean mining group United Mining Supply (UMS).

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