Norsk Hydro Offers To Acquire Icelandic Aluminium Plant ISAL For $345 Mln

(RTTNews) - Norsk Hydro ASA (NHY, NHYDY.PK, NHYDY.PK) Monday said it made a binding offer of for $345 million to acquire Rio Tinto's Icelandic aluminium plant ISAL. The offer also includes the Dutch anode facility Aluchemie and Swedish aluminium fluoride plant Alufluor.

Binding offer to acquire Rio Tinto's Icelandic aluminium plant Rio Tinto Iceland Ltd's 53 percent share in Dutch anode facility Aluminium & Chemie Rotterdam B.V, and 50 percent of the shares in Swedish aluminium fluoride plant Alufluor AB.

The transaction is expected to be finalized in the second quarter of 2018, making ISAL, Aluchemie and Alufluor part of Hydro's global operations.

The addition will further strengthen Hydro's position as the preferred and leading extrusion ingot supplier in Europe. Hydro sees synergies with respect to technology creep, optimization of anode portfolio and freight and handling.