Global player Norsk Hydro ASA, a Norwegian crude material group, has sold the Hydro Aluminium Giesserei Hannover GmbH to IQ Industrial Holding S.à.r.l., a Luxembourg-based group of private investors with industrial stakes throughout Europe. The deal has been closed with effect from May 30, 2014.
Hydro Aluminium Giesserei Hannover GmbH annually produces approximately 12,000 tons of aluminium in the form of special alloys for the use in aircraft construction. It has a staff of about 30 employees in Hanover. In the future the company will be acting under the name “Leichtmetall Aluminium Giesserei Hannover GmbH”.
TRACC LEGAL, with attorney Dr. Thorsten Steinhaus in charge, acted as advisors for IQ Industrial Holding S.à.r.l. during the transaction. Norsk Hydro ASA was advised by Munich-based Norton Rose Fulbright LLP, most importantly attorney Dr. Michael Malterer.
In addition, the seller (Unify) received M&A advice from Blue Corporate Finance AG from Zurich (Maximilian Graf von Oppersdorff).