Norwegian conglomerate Orkla said yesterday it was in talks to sell its metals company Elkem to a Chinese silicon company, reportedly for up to 2 billion euros (US$2.6 billion), despite continued tensions between the two countries over last year’s Nobel Peace Prize.
“Orkla ASA hereby confirms that it is in negotiations with China National Bluestar regarding a possible sale of Elkem AS’ silicon-related operations, including Elkem Solar,” the industrial group said in a statement.
The announcement confirmed a report yesterday in Norway’s financial daily Dagens Naeringsliv stating that China’s leading silicon producer was on the verge of buying Elkem.
“Orkla, which has controlled Elkem since 2005, appears to have been in agreement with the Chinese on the principal points of the deal for some time, but the [Norwegian Nobel Committee’s] awarding of the Nobel Peace Prize to Chinese dissident Liu Xiaobo (劉曉波) seems to have delayed the agreement,” Dagens Naeringsliv reported.
Liu, a writer and one-time professor, was sentenced to 11 years in prison in 2009 on subversion charges after co-authoring Charter 08, a bold petition calling for political reform.
Beijing, which considers Liu a “criminal,” has reacted with fury at his prize.
“Today, however, all seems set for a final accord and the Orkla board of directors has been informed it should be prepared to meet soon” to finalize the deal, Dagens Naeringsliv wrote.
In its statement, Orkla said only it would “make a further announcement as and when appropriate.”
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