FONT-SIZE Plus   Neg

Norsk Hydro Receives Chinese Regulatory Approval For JV With Orkla

Norsk Hydro ASA (NHY,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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The U.S. Consumer Products Safety Commission has asked Safety 1st to recall 35,000 highchairs after several children fell and were injured. The recall covers about 35,000 wooden Safety 1st highchairs in three models: HC144BZF (Casablanca), HC229CZF (Gentle Lace) and HC229CYG (Black Lace). Safety... Ferrari, the luxury car division of Fiat Chrysler Automobiles (FCAU) is reportedly getting a much higher valuation than previously expected driven by its premium status of manufacturing high-performance luxury cars. According to reports, Ferrari expects the IPO to bring its market valuation to about... SeaWorld Entertainment Inc. (SEAS) has received another blow to its business as the California Coastal Commission banned breeding of captive killer whales in San Diego. The new law means SeaWorld won't be allowed to breed captive orcas, including through artificial insemination, at its California...
comments powered by Disqus
Follow RTT