Rio Tinto: Hydro ends deal for aluminium assets
(CercleFinance.com) - Rio Tinto said on Friday that it has been informed by Norwegian aluminium producer Hydro that it has withdrawn its offer to acquire the ISAL smelter in Iceland.
In February 2018, Hydro made a binding offer to acquire Rio Tinto's Icelandic aluminium plant. A sale and purchase agreement had even been signed in June.
Hudro has decided to request that the transaction be terminated as European regulators took longer than expected to approve the transaction, the group said.
The deal also included Rio's 53.3% share in the Aluchemie anode plant in the Netherlands and its 50% share in the Aluminium fluoride plant in Sweden.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In February 2018, Hydro made a binding offer to acquire Rio Tinto's Icelandic aluminium plant. A sale and purchase agreement had even been signed in June.
Hudro has decided to request that the transaction be terminated as European regulators took longer than expected to approve the transaction, the group said.
The deal also included Rio's 53.3% share in the Aluchemie anode plant in the Netherlands and its 50% share in the Aluminium fluoride plant in Sweden.
Copyright (c) 2018 CercleFinance.com. All rights reserved.