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EU Okays BlueStar's Acquisition of Elkem

2:25 AM MDT | April 1, 2011 | Natasha Alperowicz

Chinese state-owned company BlueStar (Beijing) has received clearance from the European Commission to acquire Orkla's (Oslo) Elkem business, including its solar and semiconductor grade silicon, special alloys for the foundry industry, carbon and microsilica activities. Elkem has manufacturing facilities in Europe, North and South America, Africa and Asia. BlueStar announced earlier this year that it agreed to buy the operation for $2 billion. BlueStar, backed by private equity firm Blackstone Group, will, through this acqusition, gain technology, which would help...

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