Novelis Inc receives final clearance to complete acquisition of Aleris Corpn

Aleris Corporation is a global supplier of rolled aluminium products

Hindalco Industries, Novelis Inc, Acquisition, Aleris Corporation, Rolled aluminium products, European Commission, Duffel, Belgium, Liberty House Group, Gupta Family Group, ALVANCE

Hindalco Industries’ overseas subsidiary Novelis Inc has received final clearance to complete the acquisition of Aleris Corporation. Aleris Corporation is a global supplier of rolled aluminium products.

Earlier, the European Commission had determined that the acquisition could proceed on the condition that Novelis divest Aleris' plant in Duffel, Belgium, to a third-party approved by the Commission. Novelis Inc satisfied that condition when the European Commission determined that the proposed purchaser, Liberty House Group, is a suitable buyer of the Duffel facility.

Liberty House Group, which is part of the Gupta Family Group, intends to acquire the Duffel facility under its newly formed aluminium vertical called ALVANCE. The purchase price for the Duffel facility is EUR 310 million.

With the European Commission's approval of the buyer, Novelis Inc has now received all regulatory clearances and will move expeditiously to close the acquisition of Aleris Corporation.

Most Popular


Olympia Group announces to build up 1.1mn sq-ft greenfield it park in Guindy
The project will have a total investment of about Rs 750 crore


Vital pre-monsoon building works resume in Maharashtra
The state government has permitted pre-monsoon work by BMC and other agencies

Latest Issue

Sept 2020
01 Sep 2020