M&A Activity • Nov 20, 2023
M&A Activity
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Norsk Hydro: Hydro receives competition clearing for Alunorte partnership with Glencore
The parties have received unconditional approval from relevant competition
authorities, including Brazil, China, Germany and Austria, and there are no
outstanding regulatory conditions to complete the transaction.
The main conditions for Glencore to acquire 30 percent in the Brazilian alumina
refinery, Hydro Alunorte and Hydro's 5 percent interest in the Brazilian bauxite
producer Mineracão Rio do Norte (MRN) together with Vale's 40 percent stake in
MRN have been fulfilled.
The transactions are expected to be completed within November 30 or December
1, 2023.
Investor contact:
Martine Rambøl Hagen
+47 91708918
Media contact:
Halvor Molland
+47 92979797
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