STOCKHOLM : Norway’s Hydro said on Monday it has agreed to buy the remaining shares in battery recycler Hydrovolt from Swedish battery maker Northvolt for 78 million Norwegian crowns ($6.79 million).

Hydro said in a statement it was increasing its stake in Hydrovolt to 100 per cent from 72 per cent through the deal.

Hydro said in October it had raised its stake in Hydrovolt, which it set up with joint venture partner Northvolt, which is under bankruptcy protection in the U.S. since November.

($1 = 11.4815 Norwegian crowns)

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