Elmin stake acquired

Kerneos, world leader in calcium aluminates it has acquired a 54% stake in the capital of the Greek company Elmin, the leading European exporter of monohydrate bauxite.

A Greek mining company founded in 2000, Elmin extracts, processes and sells monohydrate bauxite on industrial specialty products markets. Its annual sales volumes of roughly 500 Kt involve exports to Europe, Asia, the Americas and Africa, and its reserves stand at several tens of millions of tonnes.

Kerneos is bolstering its position as a reference supplier able to satisfy its customers’ needs in the building chemicals and refractories industries by securing long-term access to one of the key raw materials required for part of its range of calcium aluminates.

Lambadarios represented Kerneos on the deal. The team was led by Constantinos Lambadarios and Prokopis Dimitriadis both Partners at the firm, they collectively commented: “The main challenge was the very strict timeline required for the completion of the transaction due to the importance for both Buyer and Seller. We created a 24/7 team of lawyers for conducting the due diligence exercise as well as to prepare the documentation and the closing here in Athens. We had two dedicated partners assisted by 4 senior associates to be able to complete on time. This project was set as top priority for all the team and we organized internally to move other projects to other members of the firm to avoid delays in getting back on queries and being always available for the client to solve the complex legal issues that arose during the transaction.”