Orica Limited (ASX:ORI) has entered into a binding agreement to acquire Cyanco Intermediate 4 Corp. from Cerberus Capital Management, L.P. for approximately $640 million on February 21, 2024. The transaction will be financed with withdrawal from existing facility, balance sheet and institutional placement amount totaled $262.4 million.

As of February 21, 2024, Cyanco reported the Net debt of approximately $665.3 million, total assets of approximately $545.2 million and EBITDA of $85 million. The acquisition is subject to the expiration of certain regulatory waiting periods and other customary closing conditions. The acquisition is expected to close by the end of FY2024.