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Monday, January 10, 2011

China's BlueStar to buy Orkla's Elkem -newspaper, (ORK)

Norwegian conglomerate Orkla (ORK.OL) is on track to finally sell its Elkem metals and specialty chemicals unit to China National BlueStar, newspaper Dagens Naeringsliv reported on Monday, citing unnamed sources. Elkem, a high-tech company which produces silicon for the solar industry and specialised metals used in computers among other things, could be worth up to 15 billion Norwegian crowns ($2.5 billion), analysts have said. Dagens Naeringsliv did not disclose a price for the Elkem deal. It is not clear if BlueStar is buying all of Elkem, which includes power assets and other divisions.

Source