Morgan Advanced Materials (LSE:MGAM) has completed the sale of its entire shareholding in Foseco India, offloading 1.2 million shares that represented approximately 15% of the Indian company's issued capital.
The global advanced ceramics and carbon systems group received gross consideration of approximately INR 6,530 million, translating to expected net proceeds of around £53 million once tax treatment is finalised.
Morgan Advanced Materials will direct the proceeds toward reducing net debt, part of its stated deleveraging strategy.
The company continues to expect leverage of approximately 1.7x by the end of the 2026 financial year.
The FIL stake originated as partial consideration for the sale of Morgan's Molten Metal Systems business to Vesuvius, a deal announced on 22 August 2025 and completed on 12 November 2025.
That transaction has now been fully monetised, with the Foseco India shares converted into cash to support the balance sheet.
