# KME Group to combine cunova and aerospace business in SPAC deal

KME Group announced that its subsidiary KME SE signed a Business Combination Agreement to combine cunova GmbH (special products) and KME Aerospace into a publicly listed entity via SPAC SEDA. KME SE will convert its 45% stake in cunova and receive a majority stake in the combined company plus $20 million cash. Completion expected in Q2 2024.

- Type: Acquisition
- Announced: 2024-02-20
- Where: United States
- Value: $20.0M
- Status: announced
- Products: copper alloy components, special copper products
- Sectors: [Aerospace Components](https://endata.com/sectors/aerospace-components.md), [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [KME Group](https://endata.com/companies/11552.md)
- [cunova](https://endata.com/companies/11549.md) (target)
- [SDCL EDGE Acquisition Corporation](https://endata.com/companies/11550.md) (partner)
- [paragon AG](https://endata.com/companies/32426.md) (investor)
- [The Paragon Fund III GmbH & Co. geschlossene Investment KG](https://endata.com/companies/75721.md) (partner)
- [SEDA](https://endata.com/companies/75742.md) (acquirer)

## Sources

- [sec.gov](https://www.sec.gov/Archives/edgar/data/1846975/000182912624001009/sdcledgeacq_ex99-2.htm), 2024-02-20: "KME SE would convert its 45% stake held in cunova, as well as its receivables, into shares of the combined company listed on the NYSE and would further increase its shareholding as a result of the transfer of its aerospace business."
- [reuters.com](https://www.reuters.com/markets/deals/italys-kme-signs-deal-with-us-seda-list-cunova-unit-nyse-2024-02-20/), 2024-02-20: "KME, which has a 45% stake in Cunova, signed the business combination agreement with German private equity fund Paragon, which owns the remaining 55% of the company, as well as NYSE-listed special purpose acquisition company SEDA."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.