RHI Magnesita N.V. (LSE:RHIM) entered into non-binding letter of intent to acquire Kumas Manyezit Sanayi A.S. from Gozde Girisim Sermayesi Yatirim Ortakligi A.S. (IBSE:GOZDE) and Yildiz Holding A.S. on September 16, 2019. The Letter of Intent allows, in particular, RHI Magnesita to commence the competition clearance process and other regulatory filings. As of january 27, 2020, The Competition and Markets Authority initiated phase 1 merger enquiry for the acquisition of Kumas by RHI Magnesita. As on March 20, 2020, CMA has decided not to refer this merger to a phase 2 investigation.

RHI Magnesita N.V. (LSE:RHIM) cancelled the acquisition of Kumas Manyezit Sanayi A.S. from Gozde Girisim Sermayesi Yatirim Ortakligi A.S. (IBSE:GOZDE) and Yildiz Holding A.S. on January 14, 2021.