Norway's Norsk Hydro Pulls $345 Million Acquisition of Rio Tinto Assets
14 Settembre 2018 - 3:02PM
Dow Jones News
By Dominic Chopping
Norwegian aluminum producer Norsk Hydro ASA (NHY.OS) said Friday
it has pulled its planned $345 million acquisition of Rio Tinto
PLC's (RIO) Icelandic aluminum plant ISAL, including its interests
in Dutch anode facility Aluchemie and Swedish aluminum-fluoride
plant Alufluor.
The deal--penned earlier this year--has been waiting for
European Commission competition approval but it has taken longer
than anticipated to obtain and remains outstanding, Norsk Hydro
said.
"After considering alternative timelines, outcomes and
developments, Hydro requested to terminate the transaction and the
parties have signed a termination agreement," the company said.
"Hydro has withdrawn its EC competition filing."
Hydro will continue to own 46.7% in Aluchemie, it added.
Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@domchopping @WSJNordics
(END) Dow Jones Newswires
September 14, 2018 08:47 ET (12:47 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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