ContractPurchase Agreement • June 7th, 2012 • Commercial Metals Co • Steel works, blast furnaces & rolling mills (coke ovens)
Effective June 1, 2012, Commercial Metals Company (the “Company”) completed the sale of its Croatian Pipe Mill and wholly-owned subsidiary, CMC Sisak, d.o.o. (“CMC Sisak”), pursuant to a definitive purchase agreement (the “Agreement”) whereby CMC GH, LLC, a wholly-owned subsidiary of the Company sold all of the outstanding shares of CMC Sisak to the Danieli Group—Steel Making Division by the Danieli holding company, Industrielle Beteiligung SA (“Danieli”). Total consideration for the sale is approximately $30.4 million, of which approximately $3.1 million will be deferred until certain conditions are met. Pursuant to the Agreement, certain assets of CMC Sisak are excluded and the Company is continuing to market those assets.
