RHI-MAG or RHI Magnesita, a new company comprised of Brazil’s Magnesita and Austria-based RHI, was approved to list at the London stock exchange as part of a merger announced in June 2016.
The merger was conditioned to certain clauses, including the approval of the new company to list at both the Official List of the UK Financial Conduct Authority and the London stock exchange, both of which accomplished by the new company on Wednesday, Magnesita said.
RHI AG said on Tuesday the listing at the two entities was approved by the Dutch Authority for the Financial Markets (AFM).
The merger is expected to be completed by October 26 this year. As the deal is completed, RHI AG will cease to exist as a legal entity.