14th Sep 2018 13:22
LONDON (Alliance News) - Rio Tinto PLC said Friday that Norsk Hydro ASA decided to withdraw its offer to acquire three of the miner's aluminium plants in Iceland, Netherlands and Sweden.
Back in February, the FTSE-100 listed miner said Norwegian firm Hydro would acquire its ISAL smelter in Iceland, its 53.3% share of the Aluchemie anode plant in the Netherlands, and its 50% share in the aluminium fluoride plant in Sweden for USD345 million.
On Friday, Rio Tinto said that following initial feedback from the European Commission, Hydro withdrew the offer.
Shares in Rio Tinto were trading 1.2% higher at 3,596.50 pence each.
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