The acquisition makes Hydro the only global company in the aluminum industry that is fully integrated across the entire value chain and markets, consolidating the company's unparalleled strength in the areas of technology, R & D, innovation and product development , as well as offering products and services, which will benefit more than 30,000 customers worldwide. In addition, the acquisition provides Hydro with the ability and freedom to grow in the most attractive areas of aluminum and to continue to strengthen the use of sustainable solutions for the low carbon economy.

“Today symbolizes the beginning of an exciting journey as a leading company in our global aluminum industry, with full integration of bauxite into the final product and with the best possible platform for growth, variety, innovation and product development, as well as sustainability and responsibility, ”said Hydro President and CEO Svein Richard Brandtzæg.

Sapa will become Hydro's newest business area, Soluções em Extrudados, which will be directed by Egil Hogna. Hydro will consolidate Sapa's finances in its financial statements with an initial date of October 2, 2017, at the same time that Sapa will no longer be reported using the equity method.

Established as a joint venture between Hydro and Orkla in 2013, both with equal stakes, Sapa has been a highly successful supplier of aluminum solutions and is the largest extrusion company in the world, with 22,400 employees in more than 40 countries. As Hydro's new business area, it will continue to operate with the Extrusion Europe, North America Extrusion, Precision Tubes and Construction Systems business units. & nbsp;

The company value agreed for the totality of Sapa's shares was NOK 27 billion. A preliminary purchase price of NOK 11.86 billion for the shares, net debt adjusted and working capital normalized, was paid in cash to Orkla today. Subsequently, there will be the usual post-completion purchase price adjustment, based on the closing balance sheet. & Nbsp; & nbsp;

The transaction was initially financed with the use of own resources and the use of revolving credit, and part of the financing will later be replaced by the issue of securities.

Due to the conclusion of the transaction, Hydro has become a global integrated aluminum company with production, sales and commercial activities across the value chain - from bauxite, alumina and power generation to the production of primary aluminum, laminated products and extruded, and recycling. Headquartered in Norway, the company has approximately 35,000 employees involved in the company's activities in more than 40 countries and is present on all continents. With more than a century of experience in renewable energy, technology development and advanced partnerships, Hydro is committed to strengthening the viability of its customers and the communities in which it operates.