https://www.miningweekly.com
Business|Operations
Business|Operations
business|operations

Norsk Hydro strikes $1.6bn deal to sell assets to KPS

8th March 2021

By: Bloomberg

  

Font size: - +

Norsk Hydro, one of the world’s largest aluminum producers, is selling its rolling business to private equity firm KPS Capital Partners in the hope of improving profitability.

Hydro will sell the operations, which include seven plants and about 5 000 employees, to KPS for an enterprise value of €1.38-billion ($1.6-billion). The divestment follows a two-year review of the struggling business.

“The sale of Rolling will strengthen our ability to deliver on our strategy, strengthening our position in low-carbon aluminum, while exploring new growth in areas where our capabilities match global megatrends,” CEO Hilde Merete Aasheim said in a statement.

Hydro will get €435-million in cash from the deal, which will lower the aluminum maker’s pension liabilities by €856-million. The transaction is subject to the customary approvals from competition authorities and is expected to be completed during the second half.

To view the source of this information click here

Edited by Bloomberg

Comments

Showroom

WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 
Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.127 0.163s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: