COCKERILLJohn Cockerill India Ltd
John Cockerill India amends deal to buy Metals International for €24.32 million
- Mergers & acquisitions
- Metals
Reviewed byRachit TripathiBlacklitt Research
John Cockerill India (NSE: COCKERILL) has executed an amended share purchase agreement to acquire the entire equity of John Cockerill Metals International SA, Belgium, from its parent John Cockerill SA, it said in a filing on 03 Nov 2026. The revised aggregate price is €24,320,000, and the target is a related party transaction.
The amended terms of the acquisition
The amended share purchase agreement changes the purchase price consideration and payment terms of the original agreement dated 19 Dec 2025. Of the revised price, €5,000,000 in cash was paid on 5 Jun 2026 for 51,10,309 shares, or 20.56% of the target's paid-up share capital.
The remaining 79.44% of the target, 1,97,46,236 shares, is to be acquired by swap against 35,185 non-cumulative compulsorily convertible preference shares of the company, with a subscription price of INR 58,028.60 per share. The swap consideration equals the balance of €19,320,000. The company says the RBI approval or confirmation needed was received on 3 Nov 2026, and the CCPS are to be allotted to John Cockerill SA within 15 days of that approval. John Cockerill SA may convert them into equity shares within 18 months of allotment.
What the target is and why the company gives for the deal
The target was incorporated in Belgium on 30 Sep 2025, with paid-up share capital of €24,856,545 and turnover of €7,306,037 as on 31 Mar 2026. The company says the target is expected to play a pivotal role in expanding the group's metals activities and operational synergies.
The filing says the company states that John Cockerill SA has already transferred its 100% holding in the target to the company, and that the transaction is on an arm's length basis. John Cockerill SA will remain the majority shareholder of the company after the acquisition.
What the amended agreement means for John Cockerill India's shareholders
The company will issue preference shares to its parent as part of the swap, and the filing does not say how the company's own cash outflow beyond the part payment has been funded, what effect the deal has on its financials, or how the revised price was valued. The next dated step is the allotment of the CCPS within 15 days of the RBI approval received on 3 Nov 2026.
At a glance
| Item | Detail |
|---|---|
| Target | John Cockerill Metals International SA, Belgium |
| Holding sought | 100% of equity |
| Revised purchase price | €24,320,000 |
| Part payment | €5,000,000 paid on 5 Jun 2026 (20.56%) |
| Swap | 35,185 CCPS at INR 58,028.60 each (79.44%) |
| RBI approval | Received 3 Nov 2026 |
Filed with BSE on . Reference: Original filing (PDF)
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