Approval of Gränges acquisition in US expected in end of July
Gränges AB (publ) (“Gränges”) won the court supervised auction to acquire Noranda Aluminum Holding Corporation’s (“Noranda”) downstream aluminium rolling business in the United States, which was announced on 8 July, 2016. The completion of the acquisition is subject to an approval of Gränges as buyer by the US Bankruptcy Court. Gränges was expecting this approval by mid-July but the hearing has been adjourned to 28 July 2016. A decision is now expected in the end of July at the earliest. Gränges view is that the adjourned hearing not will affect the outcome in Court. Closing is expected