Acquirer: Hindalco Industries Limited (India); Novelis Inc. (Canada)
Acquired: Aleris Corporation (US)
Value: Approx. US$2.6 Billion
Industry: Metals; Aluminum
On July 26, 2018, Aleris Corporation, a US based aluminum producer, and Novelis Inc., a corporation organized under the laws of Canada and a subsidiary of Indian company Hindalco Industries Limited, entered into an Agreement and Plan of Merger, pursuant to which an indirect wholly owned subsidiary of Novelis merged with and into Aleris, with Aleris surviving as a subsidiary of Novelis. (See Aleris Corporation Form 8-K, July 27, 2019, SEC Filing.) “The consummation of the Merger [was] subject to the satisfaction of certain closing conditions, including, . . . the receipt of approval from the Committee on Foreign Investment in the United States (“CFIUS”) . . .” (Id.) “On February 13, 2019, [Aleris Corporation] received written notice from the Committee on Foreign Investment in the United States (“CFIUS”) that it has completed its review of the transaction contemplated by the Merger Agreement and has determined that there are no unresolved national security concerns with respect to such transaction.” (Aleris Corporation Form 8-K, February 15, 2019, SEC Filing.)
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Information contained in this post is publicly known and compiled by The Trade Practitioner.