We have assisted Norsk Hydro ASA

Wikborg Rein has assisted Norsk Hydro ASA with an agreement to sell its rolled products business for a purchase price of EUR 1,380 million to KPS Capital Partners.

Wikborg Rein has together with Clifford Chance assisted Norsk Hydro ASA with its entry into of an agreement for the sale of its rolled products business. The transaction includes seven plants (of which two in Norway), one R&D center, global sales offices, and around 5,000 employees, of which 650 employees are in Norway and the remaining mainly in Germany.

The rolled products business is sold for a purchase price of EUR 1,380 million on an enterprise value basis to KPS Capital Partners, a well-regarded and operationally focused global private equity firm, with a history of holding significant interests in metals and automotive enterprises.

The transaction is subject to customary approvals from competition authorities and is expected to be completed during second half of 2021.

For further information, please see inter alia:

https://www.hydro.com/en-NO/media/news/2021/hydro-agrees-to-sell-rolling-business-area-to-kps-capital-partners-for-eur-1380-million/ 

https://www.dn.no/industri/hydro/rolling/aasheim/hydro-selger-valseverkene-for-142-milliarder-kroner/2-1-974949 

https://e24.no/boers-og-finans/i/39RmOP/norsk-hydro-selger-valseverkene-for-142-milliarder 

This has been a true team effort. Wikborg Rein's core team comprised Alexander Wintervold, Ine Osland, Martin H. Bryde, Hans Jørgen Langeland and Simen Lium, led by Sigurd Opedal and Ingeborg Aavatsmark.