Norsk Hydro Buys Out Vale Aluminum Giant for $4.9 Billion
Norsk confirmed on Sunday that it will buy out Brazilian mining giant’s $4.9 billion aluminum assets. Vale will get 3.1 billion dollars in new Hydro Norsk shares and $1.1 billion cash from Norsk so this means 22 percent of Norsk Hydro shares will belong to Vale.
Commerce and Industry Minister Trond Giske said in a statement, “it is important for the state to remain a big, long-term shareholder of Norsk Hydro.”
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Fri, May 7, 2010
Post by Mike Rodger, Aluminum Reporter