Hydro bids for ISAL

Norwegian aluminium company Norsk Hydro ASA has made a binding offer to acquire Rio Tinto’s 100% share of Icelandic aluminium plant ISAL. The offer also includes the Dutch anode facility Aluchemie and Swedish aluminium fluoride plant Alufluor. Transactional highlights Binding offer to acquire Rio Tinto’s Icelandic aluminium plant Rio Tinto Iceland Ltd (“ISAL”), its 53% share in Dutch anode facility Aluminium & Chemie Rotterdam B.V. (“Aluchemie”), and 50% of the shares in Swedish aluminium fluoride plant Alufluor AB (“Alufluor”) for USD 345 million, subject to post-closing adjustments. In accordance with French and Dutch law, Hydro’s offer triggers a statutory consultation…