(Alliance News) - Refractory products supplier RHI Magnesita NV on Monday said it has signed a letter of intent with the sellers of Turkish firm Kumas Manyezit Sanayi AS.
RHI said the letter it signed with companies Yildiz Holding AS and Gozde Girisim Sermayesi Yatirim Ortakligi AS is non-binding.
It does however allow RHI to commence competition clearance and other regulatory filings.
The FTSE 25-listed company added that there is no certainty that the transaction will occur.
Shares in RHI closed 0.8% lower at 4,256.00 pence each in London on Monday.
RHI Magnesita (RHIM)