TheEuropean Commission (EC) today announced that it has granted unconditional merger clearance for Hydro's proposed acquisition of the Polish recyclerAlumetal S.A. Hydro first announced a tender offer to acquireAlumetal inApril 2022 , which later expired during a phase II merger review by theEuropean Commission . Hydro last week announced a renewed tender offer process to acquire 100 % of the shares inAlumetal . The subscription period for the tender offer is expected to run inJune 2023 . Hydro aims to close the acquisition in earlyJuly 2023 , subject to further conditions being fulfilled. "The approval from theEuropean Commission is a key milestone toward completing our proposed acquisition ofAlumetal . Today we move one important step closer to bringAlumetal into the Hydro family, and develop an even broader range of low- carbon products for our customers," saysEivind Kallevik , Executive Vice President of Hydro Aluminium Metal. Investor contact: Martine Rambøl Hagen +47 91708918 Martine.Rambol.Hagen@hydro.com Media contact:Halvor Molland +47 92979797 Halvor.Molland@hydro.com This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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