Norsk Hydro: Hydro acquires additional 20 percent of Vianode as Altor is exercising put option
Norsk Hydro (NHYDY) has announced the acquisition of an additional 20% stake in Vianode, a synthetic graphite manufacturer for the battery industry. This move comes after Altor, a private equity fund, exercised its put option on September 6. The transaction will result in an equal 50/50 ownership between Hydro and Altor. Vianode operates an industrial pilot plant in Kristiansand, Norway, and is expected to complete an industrial-scale production facility at Herøya Industripark by the end of 2024.
The acquisition is pending competition clearance, which is anticipated within 6-8 weeks. Notably, Hydro will incur no additional costs for this acquisition. This move aligns with Hydro's updated 2030 strategy, focusing on successful execution of current investments in its Batteries unit, with future capital allocation depending on attractiveness.
Norsk Hydro (NHYDY) ha annunciato l'acquisizione di un ulteriore 20% di partecipazione in Vianode, un produttore di grafite sintetica per l'industria delle batterie. Questo passo arriva dopo che Altor, un fondo di private equity, ha esercitato la sua opzione di vendita il 6 settembre. La transazione porterà a una proprietà equa al 50/50 tra Hydro e Altor. Vianode gestisce un impianto pilota industriale a Kristiansand, in Norvegia, e si prevede che completerà una struttura di produzione su scala industriale presso Herøya Industripark entro la fine del 2024.
L'acquisizione è soggetta all'approvazione della concorrenza, che è attesa entro 6-8 settimane. È importante notare che Hydro non sosterrà costi aggiuntivi per questa acquisizione. Questa decisione è in linea con la strategia aggiornata di Hydro per il 2030, che si concentra sull'esecuzione efficace degli investimenti attuali nella sua unità Batterie, con l'allocazione futura del capitale che dipenderà dall'attrattiva.
Norsk Hydro (NHYDY) ha anunciado la adquisición de un 20% adicional en Vianode, un fabricante de grafito sintético para la industria de baterías. Este movimiento se produce después de que Altor, un fondo de capital privado, ejerciera su opción de venta el 6 de septiembre. La transacción resultará en una propiedad equitativa del 50/50 entre Hydro y Altor. Vianode opera una planta piloto industrial en Kristiansand, Noruega, y se espera que complete una instalación de producción a escala industrial en Herøya Industripark para finales de 2024.
La adquisición está pendiente de la aprobación de la competencia, que se anticipa en un plazo de 6-8 semanas. Es importante destacar que Hydro no incurirá en costos adicionales por esta adquisición. Este movimiento se alinea con la estrategia actualizada de Hydro para 2030, centrada en la ejecución exitosa de las inversiones actuales en su unidad de Baterías, con la asignación de capital futuro dependiendo de su atractivo.
Norsk Hydro (NHYDY)는 배터리 산업을 위한 합성 그래파이트 제조업체인 Vianode의 추가 20% 지분 인수를 발표했습니다. 이 움직임은 사모펀드인 Altor가 9월 6일에 매도 옵션을 행사한 후에 이루어졌습니다. 이 거래는 Hydro와 Altor 간에 동등한 50/50 소유권을 가져오게 됩니다. Vianode는 노르웨이 크리스탄산드에 산업 파일럿 플랜트를 운영하고 있으며, 2024년 말까지 Herøya Industripark에 산업 규모 생산 시설을 완공할 것으로 예상됩니다.
이번 인수는 경쟁 승인 대기 중이며, 이는 6-8주 이내에 이루어질 것으로 예상됩니다. 특히 Hydro는 이 인수에 대해 추가 비용을 발생하지 않을 것입니다. 이 움직임은 Hydro의 2030년 업데이트된 전략과 일치하며, 이는 배터리 부서의 현재 투자 성공적인 실행에 중점을 두고 있으며, 향후 자본 할당은 매력도에 따라 달라질 것입니다.
Norsk Hydro (NHYDY) a annoncé l'acquisition d'une participation supplémentaire de 20 % dans Vianode, un fabricant de graphite synthétique pour l'industrie des batteries. Ce mouvement intervient après qu'Altor, un fonds de capital-risque, a exercé son option de vente le 6 septembre. La transaction aboutira à une propriété égale de 50/50 entre Hydro et Altor. Vianode exploite une usine pilote industrielle à Kristiansand, en Norvège, et devrait achever une installation de production à grande échelle à Herøya Industripark d'ici la fin de 2024.
L'acquisition est en attente de l'approbation de la concurrence, qui devrait intervenir dans un délai de 6 à 8 semaines. Il convient de noter qu'Hydro n'encourra aucun coût supplémentaire pour cette acquisition. Ce mouvement s'inscrit dans la stratégie mise à jour de Hydro pour 2030, axée sur l'exécution réussie des investissements actuels dans sa division Batteries, l'allocation future de capital dépendant de son attractivité.
Norsk Hydro (NHYDY) hat die Übernahme eines weiteren 20% Anteils an Vianode, einem Hersteller von synthetischem Graphit für die Batteriewirtschaft, angekündigt. Dieser Schritt erfolgt, nachdem Altor, ein Private-Equity-Fonds, am 6. September seine Verkaufsoption ausgeübt hat. Die Transaktion führt zu einer gleichmäßigen 50/50 Besitzverteilung zwischen Hydro und Altor. Vianode betreibt eine industrielle Pilotanlage in Kristiansand, Norwegen, und wird voraussichtlich bis Ende 2024 eine großflächige Produktionsanlage im Herøya Industripark fertigstellen.
Die Übernahme steht noch unter dem Vorbehalt der wettbewerbsrechtlichen Genehmigung, die innerhalb von 6-8 Wochen erwartet wird. Bemerkenswert ist, dass Hydro keine zusätzlichen Kosten für diese Übernahme tragen wird. Dieser Schritt steht im Einklang mit Hydros aktualisierter Strategie für 2030, die sich auf die erfolgreiche Umsetzung aktueller Investitionen in ihrer Batteriesparte konzentriert, wobei die zukünftige Kapitalzuweisung von der Attraktivität abhängt.
- Increased ownership stake in Vianode from 30% to 50%, strengthening Hydro's position in the battery materials market
- No additional costs incurred for the acquisition
- Aligns with Hydro's 2030 strategy for the Batteries unit
- Potential increase in financial commitments due to equal cost-sharing in Vianode's operations and investments
On September 6, the private equity fund Altor has exercised its put option, requiring Hydro to acquire additional 20 percent of Vianode, resulting in equal 50/50 ownership stake for both parties.
Vianode is a synthetic graphite manufacturer for the batteries industry operating an industrial pilot plant in Kristiansand, Norway, since 2021, and is expecting to complete an industrial scale production facility at Herøya Industripark in Norway by end 2024.
Following Elkem’s exit from Vianode in March 2024, Altor and Hydro remained shareholders with 70 and 30 percents ownerships respectively. The shareholder agreement includes a put-and-call option where each party can require a 50/50 percent ownership and share costs accordingly.
The transaction is pending competition clearance, expected within six to eight weeks. Hydro incurs no additional costs for this acquisition.
According to Hydro’s updated 2030 strategy, Hydro's Batteries unit remains focused on successful execution of its current investments, while additional capital allocation will depend on attractiveness.
Investor contact:
Martine Rambøl Hagen
+47 91708918
Martine.Rambol.Hagen@hydro.com
Media contact:
Halvor Molland
+47 92979797
Halvor.Molland@hydro.com
FAQ
What is the new ownership structure of Vianode after Hydro's acquisition?
When is Vianode's industrial-scale production facility expected to be completed?
How much did Hydro pay for the additional 20% stake in Vianode?
What is the timeline for competition clearance for Hydro's acquisition of Vianode shares?
