In furtherance to the above, we wish to inform you that, on further request of the company, JC SA has granted the second waiver for the payment of the purchase price advance, aggregating ....
COCKERILL · price
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John Cockerill India is acquiring 100% of John Cockerill Metals International SA, Belgium from its parent John Cockerill SA in a two-part deal worth up to €50 million. Part I, completed on January 1, 2026, cost €29.67 million. The current update informs that JC SA has granted a second waiver, extending the deadline for the €5 million Purchase Price Advance payment from March 31, 2026 to June 30, 2026. This is a related party transaction, approved by shareholders via postal ballot in December 2025, aimed at consolidating the group's global metals business under the listed entity. Part II of the acquisition, involving the US subsidiary, is targeted for completion by December 31, 2026.
The waiver gives the company more time to arrange cash for the advance payment, easing short-term liquidity pressure. The acquisition consolidates the global metals business under the Indian listed entity, potentially unlocking synergies and expanding the metals portfolio for shareholders, though the related-party nature of the deal warrants attention to fairness of terms.