The transaction implies an Enterprise Value of approximately 1.332 PLN million (app.
Completion of the tender offer is subject to customary terms and conditions, including obtaining competition clearance and gaining control of a minimum of 66% of total shares outstanding. Hydro has concluded an agreement with two members of the Alumetal Supervisory Board and all members of the Alumetal Management Board, in total holding approximately 39% of the company’s shares, who have undertaken to submit subscriptions in the tender offer for all their shares at the offer price.
Hydro’s 2025 strategy aims to strengthen Hydro’s position in low-carbon aluminium by investing in recycling. Hydro has set a 2025 strategic ambition to double its recycling of post-consumer scrap (PCS) and to increase annual recycling EBITDA by a range of
The transaction announced today is an important step in delivering on the 2025 strategic agenda. Following the acquisition of Alumetal, Hydro will increase the PCS usage of approximately ~150 ktpy, which together with recently announced recycling projects, will enable Hydro to meet its ambition to double PCS usage by 2025. The acquisition will provide an annual EBITDA uplift of
The offer price represents a 4.7% premium over the closing price of the day prior to the announcement.
The subscription period for the tender offer is expected to commence on
Alumetal is the second largest producer of casting aluminium alloys in
“An acquisition of Alumetal is an exciting step towards delivering on our recycling strategy. We have been impressed by the development of the company over time, and by the quality of production, modern assets and of the competence of management and employees. We look forward to bring Alumetal into the Hydro family and join forces to develop an even better offering of low-carbon recycled aluminium to our customers in the years to come,” says
Investor contact:
Line Haugetraa
+47 41406376
Media contact:
+47 92979797
This announcement is for informational purposes only and cannot be treated as an offer or proposal to purchase shares, nor as a recommendation regarding investment decisions in relation to the tender offer for the sale of shares in Alumetal S.A., announced on
The information is such that Hydro is required to disclose in accordance with the
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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