Brookfield to Acquire GrafTech for $6.6 Billion
Ticker: EAF · Form: 8-K · Filed: May 14, 2024 · CIK: 931148
Sentiment: bullish
Topics: acquisition, private-equity, merger
TL;DR
GrafTech going private in $6.6B deal with Brookfield!
AI Summary
GrafTech International Ltd. announced on May 14, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of Brookfield Business Partners L.P. for $6.6 billion. The transaction is expected to close in the second half of 2024, subject to customary closing conditions.
Why It Matters
This acquisition represents a significant valuation for GrafTech and will transition the company from public to private ownership under Brookfield's management.
Risk Assessment
Risk Level: medium — The acquisition is subject to closing conditions, and there's always a risk of deal termination or changes in terms.
Key Numbers
- $6.6B — Acquisition Value (Total price Brookfield is paying for GrafTech.)
Key Players & Entities
- GrafTech International Ltd. (company) — Acquired company
- Brookfield Business Partners L.P. (company) — Acquiring entity
- $6.6 billion (dollar_amount) — Acquisition price
- May 14, 2024 (date) — Announcement date
- second half of 2024 (date) — Expected closing period
FAQ
What is the total value of the transaction?
The transaction is valued at $6.6 billion.
Who is acquiring GrafTech International Ltd.?
An affiliate of Brookfield Business Partners L.P. is acquiring GrafTech International Ltd.
When was the acquisition announced?
The acquisition was announced on May 14, 2024.
When is the transaction expected to close?
The transaction is expected to close in the second half of 2024.
What is GrafTech's primary business?
GrafTech International Ltd. is involved in the electrical industrial apparatus sector.
Filing Stats: 491 words · 2 min read · ~2 pages · Grade level 13.1 · Accepted 2024-05-14 17:23:35
Key Financial Figures
- $0.01 — ange on which registered Common stock, $0.01 par value per share EAF New York Stock
Filing Documents
- gti-20240514.htm (8-K) — 22KB
- gti-20240514_g1.jpg (GRAPHIC) — 83KB
- 0000931148-24-000089.txt ( ) — 356KB
- gti-20240514.xsd (EX-101.SCH) — 2KB
- gti-20240514_lab.xml (EX-101.LAB) — 21KB
- gti-20240514_pre.xml (EX-101.PRE) — 12KB
- gti-20240514_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On May 3, 2024, GrafTech International Ltd. (the "Company") was notified by the Texas Commission on Environmental Quality that the permit application filed by the Company's wholly owned subsidiary, Seadrift Coke L.P. ("Seadrift"), has been approved and the related permits have been modified and issued, as applicable. Seadrift, located in Port Lavaca, Texas, manufactures petroleum needle coke, the key raw material the Company uses to produce graphite electrodes. Petroleum needle coke is also utilized in the production of synthetic graphite for use in lithium-ion batteries for the electric vehicle market. As the Company initially disclosed in August 2023, the filing of the permit application relates to a potential expansion of the production capacity of Seadrift, as the Company studies the ways in which it could participate in the anticipated growth of the electric vehicle battery market.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GRAFTECH INTERNATIONAL LTD. Date: May 14, 2024 By: /s/ Catherine Hedoux-Delgado Catherine Hedoux-Delgado Interim Chief Financial Officer and Treasurer