AMU
June 28, 2024
CRU aluminum news roundup
Written by Marziyeh Horeh
Hydro and Macquarie begin renewable energy partnership
It was announced this week that Hydro has completed the transaction for the sale of 49.9% of the renewable energy company, Hydro Rein, to Macquarie Asset Management. The transaction values Hydro Rein at $333 million as per June 30, 2023, subject to closing adjustments. Macquarie contributes $214 million of this amount at closing. The funds will be transferred by June 25 of this year. The remaining part of the committed capital will be contributed over time as the need arises, it was specified. The impact from the transaction will be recognized in Hydro’s income statement for the second quarter and excluded from “Adjusted results.”
