Norsk Hydro ASA has today entered into an agreement to divest its 35 percent interest in the Jamaican bauxite and alumina partnership Alumina Partners of Jamaica (Alpart) to UC Rusal for a cash consideration of NOK 250 million (USD 46 million).
"Hydro acquired Vale's bauxite and alumina operations in Brazil earlier this year, including the word's largest alumina refinery and high-quality bauxite resources, considerably strengthening Hydro' position in the aluminium value chain. Following the acquisition, the 35 percent interest in Alpart is less strategic for Hydro," says Executive Vice President Johnny Undeli, responsible for the Bauxite & Alumina business area in Hydro
The transaction is expected to be completed in October 2011, and a positive after-tax impact of about NOK 400 million is expected to be recognized in Hydro's Q3 2011 results.
豫公网安备41010502003434号