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Norsk Hydro ASA M&A Activity 2023

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