Norsk Hydro: to buy remaining 50% of Sapa.
(CercleFinance.com) - Norsk Hydro said on Monday that it would buy the remaining 50% of Sapa's capital, which will make the Norwegian aluminium producer the sole owner of the extruded aluminium company.
Hydro has agreed to acquire fellow Norwegian diversified group Orkla's 50 percent stake in Sapa for a total enterprise value of 27 billion Norwegian kronor (around 2.8 billion euros).
As a reminder, Hydro and Orkla combined their aluminium extrusion assets in 2013 to form a 50/50 joint venture that became the world's largest extrusion company.
Sapa currently has 22,400 employees and operates in 40 countries.
The transaction is expected to be completed in the second half of 2017.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Hydro has agreed to acquire fellow Norwegian diversified group Orkla's 50 percent stake in Sapa for a total enterprise value of 27 billion Norwegian kronor (around 2.8 billion euros).
As a reminder, Hydro and Orkla combined their aluminium extrusion assets in 2013 to form a 50/50 joint venture that became the world's largest extrusion company.
Sapa currently has 22,400 employees and operates in 40 countries.
The transaction is expected to be completed in the second half of 2017.
Copyright (c) 2017 CercleFinance.com. All rights reserved.