Norsk Hydro: Sale of Hydro Rolling business area to KPS Capital Partners

Rhea-AI Summary

Norsk Hydro ASA has received the necessary approvals to sell its Hydro Rolling business to KPS Capital Partners, as announced on March 5, 2021. The transaction is set to close in Q2 2021, marking a significant step in Hydro's strategic initiatives. This sale is expected to streamline operations and focus on core areas for future growth.

Positive

• Transaction expected to close in Q2 2021, enabling strategic realignment.
• Streamlining operations by divesting non-core business may enhance future growth prospects.

Negative

• None.

Reference is made to stock exchange notice of March 5, 2021, stating that Norsk Hydro ASA has entered into an agreement to sell its Hydro Rolling business to KPS Capital Partners. The transaction has now received the necessary approvals and is expected to close in Q2 2021.

Investor contact:  
Line Haugetraa 
+47 41406376 
Line.Haugetraa@hydro.com 

FAQ

What is the latest update on Norsk Hydro ASA's sale of the Hydro Rolling business?

Norsk Hydro ASA has received necessary approvals and plans to finalize the sale to KPS Capital Partners in Q2 2021.

When is the Hydro Rolling business sale expected to close?

The sale of the Hydro Rolling business is anticipated to close in Q2 2021.

Who is the buyer of Norsk Hydro ASA's Hydro Rolling business?

The buyer of the Hydro Rolling business is KPS Capital Partners.

What was announced in the March 5, 2021 stock exchange notice regarding Norsk Hydro ASA?

The notice announced Norsk Hydro ASA's agreement to sell its Hydro Rolling business to KPS Capital Partners.