Major silicon producer China National BlueStar is to purchase Norwegian competitor Elkem for two billion dollars (1.5 billion euros), the Norwegian firm's parent company Orkla said Tuesday.
The purchase is the first major deal between the two countries since the Nobel Peace Prize was awarded in October to Chinese dissident Liu Xiaobo, a choice that angered the Chinese government.
"With this transaction BlueStar will strengthen its competitiveness in the silicon industry and broaden its footprint in adjacent markets," Orkla and BlueStar said in a joint statement.
Orkla confirmed Monday it was in talks with China's top silicon producer, leading Norway's trade minister Trond Giske to express hope that ties between the two countries would improve following differences over the Nobel award.
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