On Friday, April 14, China National BlueStar (Group) Co, Ltd, completed its equity ownership takeover of the Norway-headquartered Elkem.
BlueStar signed a contract with Elkem's parent company, Orkla Group, on January 10, buying its Elkem unit for $2 billion.
Elkem is a world-leading manufacturer of silicon products, with factories and sales centers around the world. Its products mainly include silicon materials, solar energy facilities and carbon parts. The company enjoys an annual sales income of around $2 billion.
BlueStar, jointly owned by the China National Chemical Corporation (ChemChina) and the US-based Blackstone Group, is a major manufacturer of new material and specialty chemical products. It boasts a sales income and total assets exceeding $7.5 billion, with businesses in more than 140 countries and regions around the world.
The consulting companies of BlueStar include the Royal Bank of Scotland, Pricewaterhouse Coopers, Selmer, Clifford Chance, Zhonglun W&D, Photon and CRU. Oriental Vikings, Moelis & Company and Thommessen are Orkla's consulting companies.