Norsk Hydro: Hydro acquires additional 20 percent of Vianode as Altor is exercising put option
09 Septiembre 2024 - 10:00AM
UK Regulatory
Norsk Hydro: Hydro acquires additional 20 percent of Vianode as
Altor is exercising put option
On September 6, the private equity fund Altor has
exercised its put option, requiring Hydro to acquire additional 20
percent of Vianode, resulting in equal 50/50 ownership stake for
both parties.
Vianode is a synthetic graphite manufacturer for the batteries
industry operating an industrial pilot plant in Kristiansand,
Norway, since 2021, and is expecting to complete an industrial
scale production facility at Herøya Industripark in Norway by end
2024.
Following Elkem’s exit from Vianode in March 2024, Altor and
Hydro remained shareholders with 70 and 30 percents ownerships
respectively. The shareholder agreement includes a put-and-call
option where each party can require a 50/50 percent ownership and
share costs accordingly.
The transaction is pending competition clearance, expected
within six to eight weeks. Hydro incurs no additional costs for
this acquisition.
According to Hydro’s updated 2030 strategy, Hydro's Batteries
unit remains focused on successful execution of its current
investments, while additional capital allocation will depend on
attractiveness.
Investor contact:
Martine Rambøl Hagen
+47 91708918
Martine.Rambol.Hagen@hydro.com
Media contact:
Halvor Molland
+47 92979797
Halvor.Molland@hydro.com
Norsk Hydro ASA (TG:A2R0MA)
Gráfica de Acción Histórica
De Sep 2024 a Oct 2024
Norsk Hydro ASA (TG:A2R0MA)
Gráfica de Acción Histórica
De Oct 2023 a Oct 2024