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Acquisition and disposal related gains / (costs)
 6 Months Ended
Jun. 30, 2019
Business Combinations [Abstract]  
Acquisition and disposal related gains / (costs)
Acquisition and disposal related gains / (costs)
A gain of $2.9 million in the Second Quarter of 2019 (2018: nil) relates the the sale of Magnesium Elektron CZ s.r.o. and has been recognized within acquisition and disposal related gains / (costs) in the consolidated statements of income.
 
 
Second Quarter
 
 
In millions
2019
 
 
Cash proceeds
$
5.9

 
 
Less:
 
 
 
     Cash held in business
(1.3
)
 
 
     Purchase price adjustment
(0.2
)
 
 
Net proceeds
$
4.4

 
 
Net assets less cash
(3.6
)
 
 
Profit on disposal
$
0.8

 
 
Disposal costs
(0.4
)
 
 
Realized translation gain on disposal
2.5

 
 
Net profit on disposal
$
2.9

 


This gain was offset by a $4.6 million charge in the First Quarter of 2019 (2018: Nil) in relation to a reimbursement of costs following the terminated Neo acquisition.