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Business
OMG is divesting nickel assets
November 27, 2006
| A version of this story appeared in
Volume 84, Issue 48
OM Group has agreed to sell all of its nickel assets to Norilsk Nickel, a Russian mining and metallurgical company. The deal, approved by both companies' boards, is for $408 million in cash, plus a potential postclosing adjustment. When the transaction is completed, OMG will enter a five-year agreement with Norilsk's trading subsidiary to obtain nickel-based raw materials for its electronic chemicals business and cobalt raw materials for other chemical businesses.
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