NHYDY - Norsk Hydro to sell Rolling division in $1.65B deal

Norsk Hydro (NHYDY) agrees to sell its global aluminum rolling business to P-E firm KPS Capital Partners for €1.38B ($1.65B).The transaction includes seven plants, a research and development center, global sales offices and ~5K employees.Last year, the Rolling division's sales totaled 864K metric tons of aluminum and ~NOK24B ($2.8B) in revenues, 17% of the group total.The division, which turns aluminum slabs into metal sheets used for packaging, automobiles and drinks cans among other products, had been under review since Hilde Merete Aasheim became Hydro's CEO in 2019.

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Norsk Hydro to sell Rolling division in $1.65B deal