Business

Novelis gets nod for Aleris acquisition

Hindalco Industries is a step closer to acquire Aleris Corporation, as its wholly owned subsidiary Novelis Inc. has got the approval of the European Commission for the $2.6-billion deal, subject to condition of sale of Aleris' plant in Duffel, Belgium.

“Novelis is working expeditiously to market the plant to potential buyers and sign a definitive agreement, subject to European Commission approval,” said a company statement.

With this conditional approval in the European Union, as well as a clear path forward for approval in the U.S., Novelis continues to work closely with the Chinese State Administration for Market Regulation to receive its approval.

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Printable version | Apr 5, 2020 11:51:32 PM | https://www.thehindu.com/business/novelis-gets-nod-for-aleris-acquisition/article29568356.ece

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