Hydro draws revolver for Sapa buy

By Silas Brown
02 Oct 2017

Norsk Hydro completed its buyout of fellow Norwegian aluminium producer Sapa, valued at Nkr27bn ($3.38bn) on Monday, drawing in part on its existing five year revolving credit facility.

A preliminary Nkr11.86bn cash purchase of shares — which was adjusted for net debt and normalised working capital — was paid to Orkla, the previous owner of the stake, on Monday morning.

Hydro announced its intentions to buy the 50% portion of the company it did not already own ...

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