Latham Reps Norsk Hydro In $4.9B Vale Aquisition

Law360, New York (May 3, 2010, 1:05 PM EDT) -- Norwegian aluminum supplier Norsk Hydro ASA has agreed to purchase Brazil-based Vale SA's aluminum business for $4.9 billion, a move that will give Hydro access to a massive reserve of raw materials.

The companies announced the deal Sunday. Under the terms of the agreement, Vale will receive $1.1 billion in cash, as well as 22 percent stake in Hydro. Expected to close in the fourth quarter of 2010, the transaction is subject to certain customary approvals.

Hydro will also assume $700 million in debt under the...
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