Elkem ASA (“Elkem” or the “Company”) announced on 30 April 2026 the successful closing of the sale of the majority of its Silicones division to Bluestar to be settled with all Elkem shares held by Bluestar through Bluestar Elkem International Co. Ltd. S.A. (collectively with its relevant affiliate(s), “Bluestar”) (the “Transaction”).
The Transaction was announced 13 February 2026 and will enable Elkem to create a globally leading metals and materials producer. Following the closing and approval of all closing conditions, Bluestar will no longer hold any shares in Elkem, and the minority investors in Elkem will assume 100% control of Elkem, which will remain listed on the Oslo Stock Exchange. The Transaction perimeter includes all assets, rights and liabilities, as well as employees in relation to the sold perimeter. Geographically, the sold assets are located across the globe, with APAC constituting the largest market. The closing of the Transaction represents a significant milestone in streamlining Elkem into a focused pure play metals and materials company and will enable the Company to reallocate capital to the remaining segments over time, accelerating growth and ensuring a more attractive financial profile with reduced complexity, less volatility and stronger cash flow generation for investment and distribution to shareholders. With a stronger focus on core products and markets, Elkem will be better suited to pursue value-accretive expansion opportunities over time.
ABGSC is proud to have assisted Elkem in its public strategic review resulting in the Transaction, which represented yet another successful transaction with ABGSC acting as adviser to Elkem following its IPO in 2018. We would like to extend our appreciation to the Company and its Board for the continued trust and look forward to following Elkem’ journey going forward.
