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.africabusinessplus.com/en/806109/fady-wazni-to-wait-longer-on-possible-ums-takeover-of-alteo/
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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