Twitter LinkedIn
    Tuesday, May 24
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Deals & Transactions»Norsk Hydro Strikes $1.6 Billion Deal to Sell Assets to KPS
    Deals & Transactions

    Norsk Hydro Strikes $1.6 Billion Deal to Sell Assets to KPS

    March 8, 2021Updated:March 8, 20211 Min Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Norsk Hydro ASA, one of the world’s largest aluminum producers, is selling its rolling business to private equity firm KPS Capital Partners in the hope of improving profitability. Hydro will sell the operations, which include seven plants and about 5,000 employees, to KPS for an enterprise value of 1.38 billion euros ($1.6 billion). The divestment follows a two-year review of the struggling business.

    “The sale of Rolling will strengthen our ability to deliver on our strategy, strengthening our position in low-carbon aluminum, while exploring new growth in areas where our capabilities match global megatrends,” CEO Hilde Merete Aasheim said in a statement.

    Hydro will get 435 million euros in cash from the deal, which will lower the aluminum maker’s pension liabilities by 856 million euros. The transaction is subject to the customary approvals from competition authorities and is expected to be completed during the second half.

     

    Read More

    Source: BNN Bloomberg

    Byd Stephen Treloar

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    Acquisitions deals Investments Sale Transactions
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Vista Equity Partners Among the First Major U.S. Private Equity Firms to Advance Global ESG Strategy with Portfolio-Wide Participation in Climate Program

    May 23, 2022

    General Atlantic eyeing $2 bn investment in India, SE Asia

    May 23, 2022

    Buyout Firm Bridgepoint Weighs $2 Billion Sale of Software Provider Kyriba

    May 23, 2022

    Air France-KLM Talking With Apollo on $528 Million Injection

    May 23, 2022

    Comments are closed.

    Other Articles

    Spanish private capital hit second highest level in 2021

    January 24, 2022

    United States: Healthcare & Life Sciences Private Equity Deal Tracker: H.I.G. Capital Invests In Concord USA

    May 18, 2021

    Caban Systems secures £35m in funding from Ember Infrastructure

    June 19, 2021

    Advisor Group, Cetera Face Heavy Debt, Big Risks

    January 10, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2022 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?