SDCL EDGE Acquisition Corporation (SEDA) has signed a non-binding letter of intent with Magnet Joint Venture GmbH, KME SE and Paragon Fund III GmbH & Co. geschlossene Investment KG through the merger of Cunova GmbH, a subsidiary of JV GmbH, and KME Aerospace, the aerospace division of KME. This is reported in the SDCL press release.
According to the terms of the agreement, KME will become the owner of a controlling stake in the combined company, whose shares will be listed on the New York Stock Exchange.
The financial terms of the transaction will be published after the conclusion of the final business combination agreements.
Completion of the transaction is subject to due diligence, approval of final agreements and approval by shareholders and regulatory authorities.
Cunova and KME Aerospace are two specialized metallurgical enterprises producing the most important components for technological processes in industry, in particular, in the marine and aerospace sectors, respectively. Cunova is a subsidiary of JV GmbH, and KME Aerospace is wholly owned by KME.
KME SE is a company producing copper and alloy products. KME offers architectural solutions, roofing materials, stamping, mineral insulated cables, copper pipes, profiles and finished parts. The headquarters is located in Osnabrück (Germany).
SDCL EDGE Acquisition Corp. – a specialized company for targeted acquisitions and mergers. The headquarters is located in New York (USA).
