Norsk Hydro sells European auto parts casting arm


OSLO, Nov 27 (Reuters) - Norway's Norsk Hydro has agreed to sell its European automotive castings business to Mexico's Nemak and will book a 900 million Norwegian crowns ($143 million) gain on the sale, Norsk Hydro said on Monday. It also agreed to sell its stake in a Mexican castings plant to its joint venture partner Grupo Industrial Saltillo. "The transaction represents an enterprise value for the castings business, consisting of the units now agreed to be sold, of approximately 3.7 ...

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