A&O Shearman advises EGA on landmark green loan facility for U.S. acquisition

EGA, the world's largest 'premium aluminium' producer, completed the acquisition of 80% of Spectro Alloys in September 2024. Spectro Alloys, based in Minnesota, is a leading secondary foundry alloy producer. This acquisition accelerated EGA's global expansion into aluminium recycling and strengthened its presence in the U.S., one of its largest global markets.

The green loan facility, provided by a syndicate of international banks, aligns with EGA’s Green Finance Framework, which was published in June 2024 to support decarbonisation projects and initiatives that contribute to the transition to a low-carbon economy.

Commenting on the deal, lead partner Adam Fadian and senior associate Aaron Temple said, "We are proud to have advised EGA in securing this landmark green loan facility, which reflects EGA’s leadership in green finance to support decarbonisation projects. It sets a benchmark for future sustainable investments in the aluminium industry and for future green finance transactions."

The A&O Shearman team was led from Dubai by partner Adam Fadian and senior associate Aaron Temple, with support from counsel Omer Sirin and legal professional Tom Buller. The New York team, including partner Gordon Mak, counsel Dustin Plotnick, and associates Catalina Beccar Varela and Penelope Yan, assisted on U.S. matters.