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KPS Capital Partners To Buy Global Aluminum Rolling Business From Norsk Hydro For About $1.67 Bln

KPS Capital Partners LP said that it agreed to buy the global aluminum rolling business from Norsk Hydro ASA (NHY,NHYDY.PK,NHYDY.PK) for 1.38 billion euros or about $1.67 billion.

KPS Capital Partners expects to complete the transaction in mid-year 2021.

The aluminum rolling business' assets consist of seven manufacturing facilities and one R&D center across Germany and Norway, including Alunorf, the world's largest aluminum rolling mill, and Grevenbroich, the world's largest rolled aluminum finishing mill. The company employs about 5,000 employees mainly in Germany and Norway.

The aluminum rolling business will become Independent company.

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