On February 13, 2026, China Blue Star (Group) Co., Ltd. (hereinafter referred to as "Blue Star Company" or "the Company") announced the signing of an agreement with Elkem ASA to acquire its core assets in the organic silicon business. The consideration for this transaction will be settled through the redemption of all shares held by Blue Star Company in Elkem Company (totaling 338338536 shares). After the transaction is completed, Blue Star Company will no longer hold shares in Eken Company.
As a long-term shareholder of Elkem, Blue Star has always regarded the organic silicon business as a strategically significant key sector. This acquisition is a key measure for the company to deepen its global organic silicon industry chain layout and consolidate its leading position in the industry. By integrating high-quality assets from the global organic silicon business, Blue Star Company will further enhance its technological strength, market size, and operational efficiency in this field, and strengthen its competitiveness across the entire industry chain.
Blue Star Company believes that this acquisition is beneficial for the long-term stable development of the silicone business and is in line with the common interests of employees, customers, and all stakeholders. The company will continue to leverage its industrial advantages and resource integration capabilities to promote innovation driven and sustainable development of this business.
This transaction still needs to meet multiple delivery conditions, including approval from the shareholders' meeting of Eken Company. Eken Company plans to hold an extraordinary shareholders' meeting in March 2026 to review this transaction. If all conditions are met as scheduled, the transaction is expected to be completed and delivered by the end of April to early May 2026.
This acquisition marks an important step for Blue Star Company in its global layout of the organic silicon industry chain. By improving the global production capacity and technology system of organosilicon, the company will further strengthen the stability of the industrial chain, cost advantages, and green operation capabilities, continue to adhere to the international development strategy, increase investment in overseas core regional markets, and lay a solid foundation for future sustainable growth and strategic synergy.