Mutares SE & Co. KGaA completed the acquisition of Sheffield Operations of Allegheny Technologies Incorporated.
Mutares SE & Co. KGaA (XTRA:MUX) completed the acquisition of Sheffield Operations of Allegheny Technologies Incorporated (NYSE:ATI) on May 12, 2022. As of May 12, 2022, regulatory approvals and closing conditions are completed. In 2021, Sheffield Operations delivered a negative EBITDA of $6 million and sales of $36 million. ATI paid transaction costs, net of proceeds received, of $2.8 million in the second quarter of 2022, which is reported as an investing activity on the consolidated statement of cash flows, and expects to receive an additional approximately $3 million cash consideration on the sale of this business by the end of fiscal year 2022.