SDCL EDGE Acquisition announced today that it has executed a non-binding letter of intent with Magnet Joint Venture GmbH, KME SE and The Paragon Fund III GmbH for a business combination with the special product business of Cunova GmbH, a wholly-owned subsidiary of JV GmbH and certain assets of KME comprising the KME Specialty Aerospace Business.
Under the terms of the LOI, KME is expected to hold a majority stake in the merged entity, with shares listing on the New York Stock Exchange. The companies said additional details would be announced upon signing definitive agreements.
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