Hydro's Sale of Scanraff-Part Concluded
17 December 2003 - 11:33PM
PR Newswire (US)
Hydro's Sale of Scanraff-Part Concluded OSLO, Norway, Dec. 17
/PRNewswire-FirstCall/ -- Norsk Hydro and Preem Petroleum have
today concluded the agreed transfer of Hydro's 25 percent share in
the Scanraff refinery at Lysekil in Sweden to Preem. Preem already
owns the remaining 75 percent share in the refinery. The agreement
between the companies was signed in September this year, but one
condition has been approval by the competition authorities of the
European Union. Such approval was given early in December. In
connection with the conclusion of the transaction, Hydro and Preem
have agreed to reduce the previously agreed price of NOK 1,4
billion by approximately NOK 40 million. DATASOURCE: Norsk Hydro
CONTACT: Tor Steinum, +47-22-53-27-31, or cellular,
+47-95-08-39-33, , or Hege Marie Norheim, +47-22-53-81-25, or
cellular, +47-95-70-64-27, , both of Norsk Hydro Web site:
http://www.hydro.com/
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