Hastings Technology Metals to acquire a 22.1% stake in Neo Performance Materials from Oaktree Capital for $104m.

Hastings Technology Metals, a rare earths developer, agreed to acquire a 22.1% stake in Neo Performance Materials, an industrial materials manufacturer, from Oaktree Capital, a global asset management firm, for $104m. “The acquisition of the Neo stake represents an important strategic milestone for Hastings, providing the company and its shareholders with a unique opportunity to take further steps towards realising the Hastings 2.0 strategy,” Charles Lew, Hastings Chairman.