logo
Share SHARE
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
Amazon.com Inc. intends to bring its free same-day delivery to the Bronx and Chicago's South Side areas. The online retailer's plans comes after severe criticism were raised that the company unfairly left out some predominantly black and Hispanic areas from its Prime service. An analysis done by... Sprint Corp., the third largest U.S. wireless carrier, on Tuesday reported a loss for the fourth quarter that widened from last year on one-time charges and lower revenues. The latest quarter's results include charges related to severance and lease exit costs, including the shutdown of legacy WiMAX service that will free up valuable spectrum and immediately lower network costs. Shares of Infineon Technologies AG were losing around 4 percent in German trading after the manufacturer of semiconductors and system solutions reduced its revenue growth forecast for fiscal 2016. This was despite a surge in second-quarter profit with strong revenues. For the third quarter, the company projects revenue growth sequentially.
comments powered by Disqus
Follow RTT