Norsk Hydro: Hydro acquires Vale's remaining shares in Paragominas
(Thomson Reuters ONE) -
Hydro completed the acquisition of Vale's remaining shareholding in Mineração
Paragominas S.A. (MPSA) on 15 December 2016. The transaction is the second and
final step of the MPSA put/call arrangements agreed in 2011 in connection with
Hydro's acquisition of the majority of Vale's aluminium assets in Brazil. Hydro
now owns 100% of MPSA's shares.
Hydro's net payment, after adjustments resulting from the completion of
outstanding contractual arrangements with Vale, was USD 113 million. Hydro
expects the transaction to have a positive impact for Bauxite & Alumina of
approximately USD 45 million on its result in the fourth quarter of 2016, of
which USD 30 million will be excluded from underlying earnings.
Investor contact
Contact Olena Lepikhina
Cellular +47 96853035
E-mail Olena.Lepikhina(at)hydro.com
Press contact
Contact Halvor Molland
Cellular +47 92979797
E-mail Halvor.Molland(at)hydro.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Norsk Hydro via GlobeNewswire
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