Hydro gets competition clearing for Alunorte partnership with Glencore

The parties have received unconditional approval from relevant competition authorities, including Brazil, China, Germany and Austria, and there are no outstanding regulatory conditions to complete the transaction.

The main conditions for Glencore to acquire 30 percent in the Brazilian alumina refinery, Hydro Alunorte and Hydro’s 5 percent interest in the Brazilian bauxite producer Mineracão Rio do Norte (MRN) together with Vale’s 40 percent stake in MRN have been fulfilled.

The transactions are expected to be completed within November 30 or December 1, 2023.