Hydro ends acquisition of Rio Tinto's Isal aluminium plant; Dunkerque sale still on

Norsk Hydro has ended its planned $345 million acquisition of three Rio Tinto aluminium assets in Europe including Icelandic smelter Isal, after considering "alternative timelines, outcomes and developments," it said on Friday September 14.

Hydro especially blamed a longer-than-expected approval process by the European Commission (EC) for its decision to withdraw its offer to acquire Isal, Rio Tinto's 53.3% share in the Aluchemie anode plant in the Netherlands and its 50% share in the aluminium fluoride plant in Sweden. The deal, which had been announced in February, was...

Published

Perrine Faye

September 14, 2018

14:31 GMT

London