Rio Tinto Receives $345 Million Offer From Norsk Hydro for Aluminum Assets
February 26 2018 - 3:51AM
Dow Jones News
By Adam Clark
Rio Tinto PLC (RIO.LN) said Monday that it has received a $345
million binding offer from Norsk Hydro ASA (NHY.OS) for a number of
its European aluminum assets.
The offer is for Rio Tinto's fully owned ISAL smelter in
Iceland, its 53% stake in the Aluchemie anode plant in the
Netherlands and its 50% share in the Alufluor aluminum fluoride
plant in Sweden, said Rio Tinto.
Norsk Hydro currently owns the remaining 47% stake in the
Aluchemie plant. Norway's Yara International ASA (YAR.OS) is
co-owner of the Alufluor plant.
Rio Tinto said it will launch a consultation process on the
offer, and expects to complete the sale in the second quarter of
2018.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
February 26, 2018 03:36 ET (08:36 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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