April 15, 2019 / 7:13 AM / 2 months ago

Trafigura Group set to take control of Nyrstar

April 15 (Reuters) - Belgian metals and mining company Nyrstar’s major shareholder Trafigura Group is set to take control of the company as part of a recapitalisation effort, Nyrstar said on Monday.

Nyrstar said it would sell its operating group to a newly incorporated subsidiary, NewCo. As part of its recapitalisation, commodities trader Trafigura will be issued 98 percent share capital of NewCo.

Trafigura will provide up to $250 million to strengthen the group’s liquidity position, Nyrstar said. (Reporting by Ishita Chigilli Palli in Bengaluru; Editing by Gopakumar Warrier)

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