Hydro acquires Sapa to create a global aluminium champion
Norsk Hydro has agreed with Orkla to acquire its 50% interest in Sapa for a total enterprise value of NOK27 billion (€2.8bn), giving full ownership in the global leader in extruded aluminium solutions. Formed as a 50/50 joint venture between Orkla and Hydro in 2013, Sapa is the world’s largest extrusion company. Sapa has 22,400 employees and is present in 40 countries. Completion of the transaction is expected in the second half of 2017, depending on the approval from competition authorities in Brazil, Canada, China, EU and Turkey. Following the transaction, Hydro will become a global, integrated aluminium company with more than 35,000 employees and activities in around 40 countries.