Mirgor Sociedad Anónima, Comercial, Industrial, Financiera, Inmobiliaria y Agropecuaria made an offer to acquire Outokumpu Fortinox S.A. from Outokumpu Holding Nederland B.V. and Outokumpu Distribution Benelux BV for $7 million.
November 13, 2022
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Mirgor Sociedad Anónima, Comercial, Industrial, Financiera, Inmobiliaria y Agropecuaria (BASE:MIRG) made an offer to acquire Outokumpu Fortinox S.A. from Outokumpu Holding Nederland B.V. and Outokumpu Distribution Benelux BV for $7 million on November 14, 2022. As of November 17, 2022, Outokumpu (HEL:OUT1V) has agreed to sell Outokumpu Fortinox S.A. to Mirgor SACIFIA (BCBA:MIRG). The consideration will be paid as; an initial payment equivalent to approximately 55% of the total price and 6 semi-annual installments for the balance, the last one due in November 2025.
As part of the deal with Mirgor, Fortinox will continue operating as the exclusive distributor of the Finnish firm?s products in Argentina, Paraguay and Bolivia. The transaction is subject to the fulfillment of certain customary conditions and expected to occur not later than December 24, 2022.
Mirgor SACIFIA is an Argentina-based company primarily engaged in the household electronics manufacture. The Company's activities are structured in two business segments: Automotive, which is specialized in the production and distribution of automotive air conditioning systems, gearboxes, heat exchanger units and wheel assemblies, and Home Electronic Appliances, which is involved in the manufacture and commercialization of residential and commercial air conditioning units, microwave ovens, monitor screens, notebooks, sound equipment and cellular phones under Samsung brand name, among others. The Company operates through a number of subsidiaries, such as Industria Austral de Tecnologia SA (IATEC), Interclima SA and Capdo SA. It is controlled by II Tevere SA.
Mirgor Sociedad Anónima, Comercial, Industrial, Financiera, Inmobiliaria y Agropecuaria made an offer to acquire Outokumpu Fortinox S.A. from Outokumpu Holding Nederland B.V. and Outokumpu Distribution Benelux BV for $7 million.
MIRGOR SOCIEDAD ANÓNIMA, COMERCIAL, INDUSTRIAL, FINANCIERA, INMOBILIARIA Y AGROPECUARIA 
