Tega Industries Completes Acquisition of Molycop Group
Tega Industries Limited announced the completion of its acquisition of the Molycop group on June 01, 2026. The transaction, which involved a consortium formed by Tega and Apollo Funds, successfully acquired the equity interests of Molycop’s direct and indirect subsidiaries, including joint ventures.The acquisition significantly expands Tega Industries Limited’s presence in the mining and mineral processing sectors. Molycop Group is recognized globally as a leading supplier of grinding media, focusing on manufacturing and sales for semi autogenous grinding (SAG) mills and ball mills. The group possesses a global supply network and a local presence in over 40 countries, including key territories such as the USA, Canada, Mexico, Chile, Peru, Australia, and Indonesia.
The overall transaction was based on an enterprise valuation of approximately USD 1.5 billion, determined using a 'locked box' approach based on Molycop’s audited balance sheet as of June 30, 2025. The purchase price payable at closing, after adjustments, was determined to be USD 393 million.
Transaction Details and Financial Components
The closing of the Acquisition involved several structured investments across various subsidiaries:| Transaction Component | Acquirer Entity | Shareholding Acquired | Consideration Amount |
|---|---|---|---|
| Ordinary Shares (SG Company) | Tega MC Investment Pte. Ltd. (Tega HoldCo) | ~84.2% | USD 394,295,423 |
| Ordinary Shares (SG Company) | AP Jupiter Holdco (SG) Pte. Ltd. (Apollo HoldCo) | ~15.8% | USD 74,107,477 |
| Redeemable Preference Shares | Apollo HoldCo | N/A | USD 270,000,000 |
Following the completion of these transactions, Tega HoldCo, a wholly owned subsidiary of Tega Industries Limited, acquired ~84.2% of the ordinary shares in Tega MC JV Holdings Pte. Ltd. (SG Company) for USD 394,295,423. Simultaneously, Apollo HoldCo acquired ~15.8% of the SG Company’s ordinary shares for USD 74,107,477. Furthermore, Apollo HoldCo completed its investment into Tega MC SG Investments I Pte. Ltd, a wholly owned subsidiary of the SG Company, for USD 270,000,000. The SG Company subsequently acquired the equity interests of the Molycop Companies through its wholly owned subsidiaries.
The integration of Molycop's complementary products is expected to position the Company amongst the world's leading designers and manufacturers of 'critical-to-operate' consumables. The acquired portfolio allows Tega Industries to offer a complete range of solutions spanning the entire value chain of the mining industry, including crushing, grinding, concentrating, and refining. The combination of grinding media and mill liners, coupled with the enhanced in-house R&D capabilities, is expected to strengthen Tega Industries' supply chain.
TEGA Stock Price Movement
On Monday, Tega Industries Limited shares rallied 2.10%, closing the day at ₹1811.4. The stock traded on robust volume, marking an impressive total of 1.24 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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