Hydro withdraws $345m bid for Rio Tinto aluminium assets

  • Fri 14 Sep 2018 13:43

    Rio Tinto said Norway's Hydro had withdrawn its $345m offer to acquire some of miner's aluminium assets following feedback from European regulators.

    Hydro had in February agreed to acquire Rio Tinto's ISAL smelter in Iceland, its 53.3% share in the Aluchemie anode plant in the Netherlands and its 50% stake in an aluminium fluoride plant in Sweden.

    'Following initial feedback from the European Commission, Hydro has withdrawn its EC merger filing and terminated the transaction,' Rio Tinto said in a short statement. At 1:43pm: (LON:RIO) Rio Tinto PLC share price was +41p at 3601p

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