Norsk Hydro’s $113 Million Acquisition of Vale’s remaining shares in Paragominas


Latham & Watkins, Veirano and Allen & Overy have advised on the deal

Hydro completed the acquisition of Vale’s remaining shareholding in Mineração Paragominas S.A. (MPSA) on 15 December 2016. The transaction is the second and final step of the MPSA put/call arrangements agreed in 2011 in connection with Hydro’s acquisition of the majority of Vale’s aluminium assets in Brazil. Hydro now owns 100% of MPSA’s shares.

Hydro’s net payment, after adjustments resulting from the completion of outstanding contractual arrangements with Vale, was USD 113 million. Hydro expects the transaction to have a positive impact for Bauxite & Alumina of approximately USD 45 million on its result in the fourth quarter of 2016, of which USD 30 million will be excluded from underlying earnings.

Latham & Watkins LLP has advised Norsk Hydro ASA with Robbie McLaren and Suneel Basson-Bhatoa.

In Brazil, Veirano Advogados has advised Norsk Hydro ASA with Pedro García, Cintia de Morais Andrade and Vitor Rozenthal.

Allen & Overy LLP has advised Vale-Companhia Vale do Rio Doce with Richard Cranfield, Lawson Caisley, Tina Barazandeh-Nejad and Sophie Nettleton.

Involved fees earner: Pedro Garcia – Veirano Advogados; Vitor Rozenthal – Veirano Advogados; Cintia de Morais Andrade Roxo – Veirano Advogados; Robbie McLaren – Latham & Watkins; Suneel Basson-Bhatoa – Latham & Watkins; Richard Cranfield – Allen & Overy; Tina Barazandeh-Nejad – Allen & Overy; Sophie Nettleton – Allen & Overy; Lawson Caisley – Allen & Overy;

Law Firms: Veirano Advogados; Latham & Watkins; Allen & Overy;

Clients: Vale S.A.; Norsk Hydro ASA;

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