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Syntagma Capital has entered exclusive negotiations to acquire Erasteel, a leader in high-speed steels and metal recycling in Europe, employing around 850 people across six sites in France, Sweden, and China. In 2022, Erasteel generated approximately €275m in revenue, primarily serving the aerospace, automotive, and industrial sectors. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to complete by the end of Q2 2023. Syntagma aims to leverage its global expertise to enhance Erasteel's growth and recycling division in France.
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