Lawyer Monthly - November 2021 Edition

Legal Adviser to Norsk Hydro NORSK HYDRO’S SALE OF ITS BELGIUM BASED PRECISION TUBING BUSINESS MERGERS & ACQUISITIONS ABOUT THE DEAL Strelia advised Norsk Hydro on the sale of its Hydro Precision Tubing Business to Aurelius. Hydro Extruded Solutions AB sold 100% of Hydro Precision Tubing Lichtervelde NV (HPTL) to Aurelius. HPTL specialises inmanufacturing welded aluminium tubes for industrial products and HVAC, in addition to other markets. Aurelius is a European investment group with offices in Munich, London, Stockholm, Amsterdam and Madrid. Its main focus is in acquiring corporate carve-outs and companies with the potential for growth and operational improvement. Strelia’s M&A team, headed by Gisèle Rosselle, was in charge of Norsk Hydro Group’s auction sale of its extrusions business, Hydro Precision Tubing Lichtervelde and plant, to Europe- based Aurelius Group. The sale of the Lichtervelde plant was part of Hydro Extrusions’ major restructuring to support performance. The deal required an advanced carve-out, complex IT segregation, and transfer of 185 employees. Strelia’s banking & finance, dispute resolution, commercial law, and labour law departments were also key advisors in steering the deal. This transaction will allow the Oslo Børs-listed company to focus on its core activities. 92 WWW.LAWYER-MONTHLY.COM NOV 2021 Lawyer Monthly Transaction Reports - Mergers & Acquisitions