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Norsk Hydro To Divest Rolling Business Area To KPS Capital Partners In €1.38 Bln Deal
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Norsk Hydro To Divest Rolling Business Area To KPS Capital Partners In €1.38 Bln Deal
Business
Date posted: 05.03.2021
Category: Business News
Norwegian aluminium and renewable energy company Norsk Hydro ASA (NHY, NHYDY.PK, NHYDY.PK) Friday said it has entered into an agreement to sell its Rolling business to KPS Capital Partners for 1.38 billion euros on an enterprise value basis.
Hydro said the agreed deal price would result in a reduction of 856 million euros in pension liabilities and 435 million euros cash proceeds. The sale is subject to customary approvals from competition authorities and is expected to be completed during second half of 2021.
Source: Nasdaq