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Norway: EU allows aluminum joint venture to proceed

By  |  May 13, 2013

Norsk Hydro ASA, an aluminum company based in Norway, has announced it has received approval from the European Commission for its joint venture with consumer goods company Orkla ASA. The project will create a 50/50 partnership resulting in aluminum company Sapa. The Commission approved of the deal with concessions – Norsk will be required o divest its operations in Norway and Sweden. Chinese regulators have yet to approve of the proposal, though the US Department of Justice has okayed the deal. As Chinese regulators continue to pose lengthy waiting periods for companies around the globe, the companies note that a timeline is difficult to determine, though they expect to finalize the venture in the third quarter of the year.

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