Norsk Hydro ASA

O’Melveny obtained an important victory for Norsk Hydro ASA when the EU Commission approved the company’s proposed joint venture with consumer goods group Orkla ASA concerning the parties’ extruded products, building systems and precision tubing businesses. The transaction also received approval from the US Department of Justice and relevant competition authorities in several other jurisdictions, including Korea, Turkey, Russia, and China. Getting EU approval was the most difficult aspect of the deal because the joint venture will be the largest supplier in the aluminum soft alloy extrusions market. Following the Commission’s first phase investigation, O’Melveny’s Brussels-based team helped to secure clearance for the deal conditioned on the divestiture of a major part of Hydro’s soft alloy extrusions business in Norway and Sweden and of Orkla’s multi-port extrusions business in the Netherlands. Norsk Hydro’s in-house antitrust counsel said he appreciated our "sound guidance through deep and sometimes stormy waters."