Norsk Hydro to spin off €2.3bn fertiliser unit

Goldman Sachs is the lead contender to advise Norsk Hydro, the Norwegian energy and materials company, on its plans to list Agri, its Nkr19bn (€2.3bn) fertiliser unit.

Norsk Hydro intends to list Agri on the Oslo Stock Exchange early next year. The company said it would look at different ways to list Agri, including a straight spin-off, issuance of subscription rights to existing shareholders or an initial public offering.

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