Deals
China’s BlueStar to Pay $2 Billion for Orkla Silicon Businesses
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China National BlueStar Co., a chemicals maker backed by Blackstone Group LP, agreed to pay $2 billion for the silicon businesses of Orkla ASA’s Elkem unit as China seeks to take a lead in low-carbon power technology.
BlueStar, a state-run company under China National Chemical Corp. that’s 20 percent owned by Blackstone, will buy Elkem’s silicon materials, foundry products, carbon and solar divisions for cash, Oslo-based Orkla said today in a statement. Silicon is used to make parts for solar power generation and electronics.