Type to search

EU Commission Clears Hydro Acquisition of Alumetal

EU Commission Clears Hydro Acquisition of Alumetal

Norwegian aluminium group Norsk Hydro new logo can be seen on a flag at their headquarters at Lysaker outside of Oslo, Norway on October 3, 2018. - Norsk Hydro said it will suspend production at the world's largest alumina plant in Brazil as it had not received authorisation to use a new waste deposit area. (Photo by Fredrik HAGEN / NTB Scanpix / AFP) / Norway OUT (Photo by FREDRIK HAGEN/NTB Scanpix/AFP via Getty Images)
Listen to this story:

The European Commission (EC) announced that it has granted unconditional merger clearance for Hydro’s proposed acquisition of the Polish recycler Alumetal S.A.

Hydro first announced a tender offer to acquire Alumetal in April 2022, which later expired during a phase II merger review by the European Commission.

See related article: Porsche and Hydro Team to Decarbonize the Supply Chain of Sports Cars

Hydro last week announced a renewed tender offer process to acquire 100 percent of the shares in Alumetal. The subscription period for the tender offer is expected to run in June 2023. Hydro aims to close the acquisition in early July 2023, subject to further conditions being fulfilled.

“The approval from the European Commission is a key milestone toward completing our proposed acquisition of Alumetal. Today we move one important step closer to bring Alumetal into the Hydro family and develop an even broader range of low-carbon products for our customers,” says Eivind Kallevik, Executive Vice President of Hydro Aluminium Metal.

Related Articles