Approval of Gränges acquisition in US is postponed to the beginning of August
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. Completion of the acquisition is subject to an approval by the US Bankruptcy Court. The court hearing regarding this approval has been adjourned to 4 August, 2016, a decision is now expected in the beginning of August at the earliest.Gränges view is that the adjourned hearing not is expected to affect the outcome in Court. Closing is expected during third quarter of 2016.