Masan Group and Mitsubishi Materials Corporation Group Signed Definitive Agreements

• MMC Group will acquire 100% of H.C. Starck Holding (Germany) GmbH (“HCS”) from MHT Group for equity purchase price of USD134.5 million. 
• The Parties will enter into a long-term, win-win APT and tungsten oxide offtake agreement.
• Masan will retain its ownership in Nyobolt, a fast-charging tungsten and niobium-based battery technology company based in the United Kingdom.
• Masan will also retain potential monetary upside from future commercialization of black mass recycling technology developed by HCS.

Transaction proceeds will be used to reduce MHT’s outstanding debt balance, consistent with Masan Group’s target to reduce Net Debt to EBITDA to below 3.5x. Masan is expected to report a one-time profit gain of approximately USD40 million as a result of the transaction and benefit from long-term NPAT uplift of USD20-30 million. 

Danny Le, Chief Executive Officer of Masan Group and Chairman of MHT, commented: “We will focus on rebuilding MHT to the lowest cost producer of tungsten to maximize cash flows.  At the same time, we will continue to explore strategic alternatives to transform Masan Group into a consumer pure-play. Less is more.”

Kazuo Ohara, President of MMC’s Metalworking Solutions business, said: “We are very pleased to continue to partner with MHT Group and are confident that we can add to the continued success of MHT Group and HCS, leveraging MMC Group’s deep expertise and network. This transaction represents an important milestone in the execution of our FY2031 strategy to further grow in the tungsten industry and contribute to a recycling-oriented society.”