Orkla ASA: Orkla to sell its interest in Sapa to Hydro
Orkla and Norsk Hydro ("Hydro") have entered into an agreement whereby Hydro is to purchase Orkla's 50% interest in Sapa. The sale is in line with Orkla's strategy of being a leading branded consumer goods company. Since the establishment of the joint venture company Sapa ("Sapa JV") in 2013, the company has more than tripled its profit and become the world's leading manufacturer of extruded aluminium profiles, with a turnover of NOK 53 billion and 22,400 employees. The joint venture agreement originally formed between Orkla and Hydro contained provisions stipulating joint ownership for