More than 97 percent of the shares have now subscribed for sale in the tender offer for Alumetal. The subscription period was concluded on Friday, June 30.
Hydro will now proceed with the purchase of all Alumetal shares, which were subscribed for sale. The share purchases are expected to be concluded today and settled on July 7.
We are very pleased that our tender offer has ended successfully. As previously announced, our aim will now be to efficiently carry out a squeeze-out of the shares remaining in the hands of minority shareholders and to delist Alumetal from the WSE. We are impressed by Alumetal’s development, the quality of production, and the competence of management and employees. At this stage, we aim to integrate Alumetal within Hydro and to develop an even better offering of low-carbon recycled aluminium to our customers – says Eivind Kallevik, Executive Vice President of Hydro Aluminium Metal.
Assuming purchase of shares representing 100 percent of Alumetal’s share capital, the value of the transaction implies an aggregate equity purchase price of approximately PLN 1,265 million and an enterprise value of approximately PLN 1,651 million including dividend payable.
Source: www.hydro.com
