KPS Capital to buy Hydro's rolling division for €1.3B+
March 8, 2021
Norwegian aluminum and renewable energy company Norsk Hydro has agreed to sell its rolling business to KPS Capital Partners for €1.38 billion. The deal comprises seven plants, an R&D center, global sales offices and roughly 5,000 employees, of whom 650 are in Norway and the remainder mostly in Germany. Hydro said the sale is part of a broader strategy to improve its profitability and drive sustainability.