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The transaction is expected to result in a gain of approximately NOK100 million to be recorded in the third quarter results of 2008. This completes the divestment of Hydro's polymers activities.
Hydro entered into an agreement to sell its polymers activities to UK-based petrochemical company Ineos in late May 2007, consisting of production facilities in Norway, Sweden and the UK, and the 29.7% ownership interest in Qatar Vinyl Company (QVC).
The sale to Ineos was completed in February 2008, excluding the QVC ownership interest as Qatar Petroleum exercised its pre-emptive right to acquire the QVC ownership interest.
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