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Ferroglobe (GSM) to sell Spanish hydro facilities with one ferroalloys plant to TPG Sixth Street Partners

June 3, 2019 4:09 PM EDT

Ferroglobe PLC (NASDAQ: GSM) (Ferroglobe or the Company), the worlds leading producer of silicon metal, and a leading silicon- and manganese-based specialty alloys producer, today announced that it has reached definitive agreement for the sale of its 100% interest in subsidiary FerroAtlantica, S.A.U. (FerroAtlántica), to investment vehicles affiliated with TPG Sixth Street Partners (TPG Sixth Street), the global finance and investment firm, for a total transaction value of 170 million euros. The final price is subject to customary adjustments in this type of transaction, including net debt and working capital adjustments.

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