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Norsk Hydro to take over Sapa JV in $3.2B deal

Published 07/10/2017, 10:45 AM
Updated 07/10/2017, 10:45 AM
© Reuters.  Norsk Hydro to take over Sapa JV in $3.2B deal
  • Norwegian aluminum producer Norsk Hydro (OTCQX:NHYDY) agrees to acquire the 50% it does not already own in the Sapa joint venture with Orkla (OTCPK:ORKLY) in a deal that values Sapa at NOK27B ($3.2B).
  • Norsk Hydro says the move is in line with its strategy of becoming an integrated aluminum company involved in everything from mining to end-user products.
  • Hydro expects synergies of NOK200M/year from the deal, which it says will be immediately accretive to earnings with strong cash generation.
  • Now read: Innergex: A Dependable 4.57% Dividend Yield Stock


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