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Luoyang Molybdenum once again embarks on overseas acquisitions, planning to take a controlling stake in the world’s third-largest non-ferrous metals trader.
2019-02-14
On December 5, Luoyang Molybdenum Co., Ltd. announced that its wholly owned Hong Kong subsidiary, CMOC Limited (hereinafter referred to as “Luoyang Molybdenum Holdings”), and New Silk Road Commodities Limited, a wholly owned subsidiary of NCCL Natural Resources Investment Fund LP (hereinafter referred to as the “Investment Fund”)… (hereinafter referred to as “NSR”) has entered into an Equity Purchase Agreement, under which it intends to acquire 100% of the equity interest in New Silk Road Commodities SA (hereinafter referred to as “NSRC”), held by NSR, for US$495 million plus the target group’s net income during the relevant period, thereby indirectly holding 100% of the equity interest in IXM B.V. (hereinafter referred to as “IXM”) through NSRC.
According to the announcement, IXM was established in November 2005 and is headquartered in Geneva, Switzerland. The company primarily engages in the procurement, blending, processing, transportation, and trading of a wide range of base and precious metal raw materials as well as refined metals, with its products mainly sold to Asia and Europe. As one of the world’s leading mineral traders, IXM currently employs more than 250 staff across 15 countries and regions.
Luoyang Molybdenum stated that acquiring 100% of IXM’s equity will enable the company to fully leverage IXM’s world-class metal procurement, blending, transportation, and trading services, thereby expanding its business scope and creating new growth drivers. At the same time, this acquisition will help the company better manage supply‑demand dynamics within the industry, implement agile, efficient, and timely self‑adjustments, and strengthen its resilience to cyclical fluctuations in the mineral sector. Furthermore, it will facilitate the extension of the company’s operations downstream along the value chain, generate synergies with its existing business units, and deliver end‑to‑end integrated services to customers. Ultimately, these measures will further enhance the company’s international competitiveness and elevate its standing and influence in the global resources arena.
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