Norsk Hydro Terminates Aluminum Asset Deal with Rio Tinto
The deal between the two aluminum producers was for the acquisition of Rio Tinto aluminum assets by Hydro.
Rio Tinto (LSE:RIO) has announced that a previously penned deal with Norsk Hydro (OTCMKTS:NHYDY) has been terminated. The deal between the two aluminum producers was for the acquisition of Rio Tinto aluminum assets by Hydro.
As quoted from the press release:
Rio Tinto has been informed by Hydro that it has withdrawn its offer to acquire the ISAL smelter in Iceland, its 53.3 per cent share in the Aluchemie anode plant in the Netherlands and its 50 per cent share in the Aluminium fluoride plant in Sweden, announced on 26 February 2018.Following initial feedback from the European Commission (EC), Hydro has withdrawn its EC merger filing and terminated the transaction.
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