Rheinmetall AG on November 14 concluded a purchase contract with MaxamCorp. Holding S.L. of Madrid to acquire the entire share capital of Expal Systems S.A of Madrid, a globally renowned ammunition maker. Completion of the transaction, for which a closing date in summer 2023 is sought, is subject to approval by the competition authorities and other regulatory checks. The purchase price agreed between Rheinmetall and MaxamCorp., which is due after closing, is based on an enterprise value of €1.2 billion.
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| Firing of 155mm rounds called ER02 BB (Base Bleed, extended range) from EXPAL (Picture source: Spanish army) |