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
Canadian pipeline operator Enbridge Inc. said it will cut about 1,000 jobs, or six percent of its workforce, following the completion of its acquisition of Houston-based Spectra Energy Corp. The job cuts will take place across the merged company. Concept drawings for a giant U-shaped skyscraper in the New York City were released this week, which is deemed to be the longest building in the world. The concept, which is called Big Bend, would be a skinny, curved structure. The glass-lined tower would be in the shape of an upside U and will be running 4,000-feet-long from end to end on Billionaire's Row. Alaska Air Group Inc., which completed its $2.6 billion acquisition of Virgin America last year, said that the combined company will adopt Alaska Air's name and logo. The Virgin America name will be retired, "likely sometime in 2019," the airline added.
comments powered by Disqus
Follow RTT