What significant business transaction did Elkem announce on February 13, 2026?

Elkem announced it agreed to sell the majority of its Silicones division to its largest owner, China's Bluestar.

What will Bluestar receive in exchange for the Silicones division?

Bluestar will cancel all of its 338.3 million shares in Elkem, which constituted 52.9% of the group's capital and was valued at $1.02 billion.

What are Elkem's plans following the sale of its Silicones division?

Elkem plans to simplify its business, sharpen its strategic focus, and raise 1.5 billion Norwegian crowns from other shareholders.

Home / Business and Economy / Bluestar Takes Over Elkem Silicones, Exits Ownership

Bluestar Takes Over Elkem Silicones, Exits Ownership

13 Feb

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Summary

Elkem is selling the majority of its Silicones division to Bluestar.
Bluestar will cancel its 52.9% stake in Elkem valued at $1.02 billion.
Elkem aims to sharpen focus and seeks 1.5 billion crowns from shareholders.

Bluestar Takes Over Elkem Silicones, Exits Ownership

Elkem, a Norwegian company, announced on Friday, February 13, 2026, that it has agreed to sell the majority of its Silicones division. The buyer is its largest shareholder, China's Bluestar.

As part of the agreement, Bluestar will cancel all of its 338.3 million shares in Elkem. This represents 52.9% of the Norwegian group's capital and was valued at $1.02 billion based on Wednesday's closing price. Elkem's CEO stated the divestment aims to simplify the business and sharpen strategic focus.

Following this transaction, Elkem intends to raise 1.5 billion Norwegian crowns from its other shareholders. This strategic shift is expected to allow Elkem to allocate capital towards areas with strong long-term growth potential.

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