（Reuters） - Norwegian aluminum producer Norsk Hydro's （NHY.OL） planned $4.9 billion purchase of Brazilian miner Vale's VALES.SA aluminum assets has been delayed until the first half of 2011.
Norsk Hydro said on Tuesday the delay from the fourth quarter of 2010 was caused by mining rights and regulatory approval processes in Brazil and was not expected to have a significant impact on the value of the transaction for Hydro.
Its shares were down 1.7 percent to 39.48 Norwegian crowns at 0940 GMT on an Oslo bourse down 0.5 percent.
"The news does not alter our view of the deal, but it is marginally negative to sentiment because the market is already a little unsure how to value these assets," said Samir Bendriss, an analyst at Pareto Securities.
In May, Norsk Hydro agreed to buy alumina and bauxite assets from Vale, which will get a 22 percent stake in Hydro as partial payment, a transaction the Norwegian government has approved.
"We will not be able to close the transaction this year as anticipated," Hydro chief executive Svein Richard Brandtzaeg said. "We expect to get the necessary remaining approvals in time to finalize the transaction in the first half of 2011."
Hydro said the deal required the transfer of mining rights from Vale to a newly established joint venture company called Paragominas, of which Hydro will own 60 percent.
Tito Martins, executive officer and head of basic material operations at Vale, said: "Vale and Hydro are working closely together to finalize the transaction as soon as possible, and we are confident that we will resolve all outstanding issues."
（Additional reporting by Oslo newsroom; Editing by Dan Lalor and Louise Heavens）
（$1 = 5.903 Norwegian crowns）
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