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Ormet Sale to Smelter Acquisition Approved by Bankruptcy Court

The U.S. Bankruptcy Court in Delaware approved the sale of Ormet to Smelter Acquisition, a portfolio company owned by private investment funds managed by Wayzata Investment Partners.

Wells Fargo, Wayzata Support Ormet Sale with DIP Facility

Ormet said it signed an asset purchase agreement with a portfolio company of Wayzata Investment Partners in connection with a proposed restructuring of Ormet. Wells Fargo and Wayzata are providing $90 million of DIP financing to support the agreement.

February 26, 2013 asset purchase agreement | DIP Facility Ormet Corporation | Ormet Corporation | Wayzata Investment Partners ABFJ News

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Ormet Sale to Smelter Acquisition Approved by Bankruptcy Court

Wells Fargo, Wayzata Support Ormet Sale with DIP Facility