The Chinese competition authorities (MOFCOM) have approved the closing of the transaction whereby Hydro and Orkla will have 50/50 ownership of the planned Sapa JV.
The approval of 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 intend to close the transaction as soon as possible and with accounting effect from September.
Oslo, 19 August 2013
Håkon Mageli , EVP Corporate Communications and Corporate Affairs
Tel.: +47 928 45 828
Rune Helland, SVP Investor Relations
Tel.: +47 22 54 44 11 / +47 97 71 32 50
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.