Nat BlueStar buys $2bn of Orkla assets

first_imgTuesday 11 January 2011 7:24 pm Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndo Show Comments ▼ KCS-content NORWAY’S Orkla has agreed to sell its Elkem unit to China National BlueStar for $2bn (£1.28bn) in one of the biggest industrial takeovers by a Chinese group in Europe.The agreement was reached despite a row between China and Norway over the award of the Nobel Peace Prize to Chinese dissident Liu Xiaobo.Pizzas-to-metals conglomerate Orkla has been looking to slim down its business lines and a sale was widely expected.Orkla said yesterday the transaction covered Elkem’s silicon-related operations such as Elkem Silicon Materials, Elkem Foundry Products, Elkem Carbon and Elkem Solar, but not the energy unit Elkem Energi.The acquisition will give BlueStar, a state-run specialty chemicals company backed by US private equity firm Blackstone Group, access to Elkem’s low-emission smelting technology and silicon output.Elkem produces high-grade silicon for the solar industry and computers among other things.By its own account it serves about half the world’s demand for silicon used in electronic components.Its website says its production methods for solar-grade silicon use a quarter of the energy consumed using traditional technology, making it attractive to China.The deal’s size puts it in the same ballpark as Zhejiang Geely’s $1.8bn purchase of Ford’s Volvo cars unit in 2010 but behind Sinopec’s $7.2bn deal for Swiss Addax Petroleum in 2009. More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Sharecenter_img whatsapp whatsapp Nat BlueStar buys $2bn of Orkla assets Tags: NULLlast_img read more