European Commission OKs Hydro, Orkla deal

May 13, 2013 | 04:49 PM | Michael Cowden

Tags  Norsk Hydro, Orkla, Sapa, merger, joint venture, European Commission, aluminum, China nonferrous

CHICAGO — The European Commission has approved a 50-50 joint venture between Norsk Hydro ASA and Orkla ASA, the companies announced May 13.

The transaction is expected to be completed in the third quarter of 2013 "at the latest," pending approval from Chinese antitrust authorities, the companies said in separate statements. Both firms expect Chinese officials to approve the project given the companies’ "limited overlap" in China, they said.....

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