Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Norsk Hydro Receives Chinese Regulatory Approval For JV With Orkla

Norsk Hydro ASA (NHY: Quote,NHYDY.PK,NHYDY.PK) said Monday that the Chinese competition authorities have approved the closing of the transaction whereby Hydro and Orkla will have 50/50 ownership of the planned aluminium solutions Sapa joint venture.

The approval from the Chinese competition authorities marks the conclusion of the competition law assessment of the agreement, necessary for closure.

The transaction has already been approved by the EU Commission, the U.S. Department of Justice and relevant competition authorities in several other countries.

The parties plans to close the transaction as soon as possible and with accounting effect from September.

Click here to receive FREE breaking news email alerts for Norsk Hydro ASA and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Republicans have not found much to like about President Barack Obama's nearly six years in office, but the results of a new Washington Post-ABC News poll show that a vast majority support the president's decision to launch airstrikes in Iraq. While stocks have largely maintained a positive bias over the course of the trading day on Thursday, the major averages are turning in a mixed performance in mid-day trading. The S&P 500 has reached a new record intraday high and the Dow has climbed back above 17,000, while the tech-heavy Nasdaq is posting a modest loss. Suggesting that the economy is gaining traction, the Conference Board released a report on Thursday showing a bigger than expected increase by its index of leading U.S. economic indicators in July.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.