The Norwegian aluminium group Norsk Hydro ASA, one of the world’s largest aluminum producers, has divested its Romanian extrusion plant, Hydro Extrusion SRL, to another major player of the sector, Hammerer Aluminium Industries GmbH. The transaction is expected to be completed by the end of 2019.
DLA Piper has assisted the transaction. The whole process required a cross-practice approach involving Intellectual Property and Competition practices.
“We are glad to have assisted Hydro in meeting its challenging deadlines of executing this transaction over the summer, with key negotiations taking place in August, a traditional holiday month in Europe. The parties worked pragmatically and efficiently at getting the deal done, and we are proud to have assisted in this effort. Congratulations to both Hydro and HAI teams for a well-run transaction!” said Marian Dinu, Country Managing Partner, DLA Piper.
At the same time, Norsk Hydro announced two days ago that it would close some production in Germany and could lay off more than 700 workers in order to increase profitability.