Valcambi to acquire bankrupt RMC?

BALERNA, Switzerland, October 29, 2018 /PRNewswire/ --

Valcambi SA, one of the world's largest gold refiners, today announced that it has reached an understanding to acquire Republic Metals Corporation (RMC), a precious metals refiner based in Miami US, subject to completion of the final steps of due diligence. The two companies are working through the logistics of the planned integration.

The combined entity will ensure more efficient and better service to the existing and prospective clients of RMC. The combined entity will enhance the quality control, technology and various other aspects of refining of RMC and would make RMC one of the most preferred and best refinery of precious metals in the world.

Click to expand...

Republic Metals Corporation – Discrepancies in Precious Metals Inventory Accounting Ultimately Culminate in Chapter 11 Filing

Click to expand...

Swiss precious metals refiner Valcambi has made a $16 million offer to buy the assets of Miami-based rival Republic Metals Corporation (RMC), which filed for bankruptcy last year, a source familiar with the matter said on Wednesday.

The source said the New York bankruptcy court hearing the case had accepted the offer as a stalking horse bid, implying that any other bids that come in must be higher than Valcambi’s.
...
Valcambi is Switzerland’s biggest gold refiner. It said in October it had reached an understanding to acquire RMC subject to the completion of due diligence.

That deal fell through after RMC, one of the largest U.S. refineries, filed for bankruptcy days later, on Nov. 2.

Click to expand...