Norsk Hydro ASA to hive off 29.7% stake in Qatar Vinyl Company to Qatar Petroleum

19-Aug-08
Norsk Hydro ASA has completed the divestment of Hydro's Polymers activities, with the sale of its 29.7% ownership interest in Qatar Vinyl Company (QVC) to Qatar Petroleum, at US$136 million. Hydro entered into an agreement to sell its Polymers activities to INEOS in late May 2007, consisting of production facilities in Norway, Sweden and the UK, and the 29.7% ownership interest in QVC. The sale to INEOS was completed February 1, 2008, excluding the QVC ownership interest as Qatar Petroleum exercised its pre-emptive right to acquire the QVC ownership interest.
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