Aleris News

Companies

Hindalco closes $2.8-billion acquisition of US-based Aleris Corp

Hindalco unit Novelis will buy Aleris’ 13 plants in N. America, Europe, Asia as part of dealThe deal takes forward Hindalco’s aluminium products strategy and opens door to aerospace

2 min read14 Apr 2020
Companies

Aleris deal likely to face more delays

In July 2018, Aditya Birla Group company Hindalco announced the $2.6 billion purchase of Aleris, with an outside date to complete the deal by 21 Jan, 2020Aleris has long-term supply contracts with plane makers Boeing, Airbus and Bombardier, besides several carmakers

1 min read15 Jan 2020
Companies

Aditya Birla Group expects Aleris deal to close by 21 January

On 1 October, European Commission approved Novelis’ proposed acquisition of AlerisThe approval is conditional on the sale of Aleris’s plant in Belgium that produces aluminium

2 min read11 Nov 2019
Companies

European Commission clears Novelis’s acquisition of Aleris

Approval granted to Hindalco’s wholly owned subsidiary subject to sale of Aleris’s unit in Duffel, BelgiumThe company is also challenging a US department of justice lawsuit to block its acquisition of Aleris

1 min read1 Oct 2019
Markets

Novelis-Aleris deal hits hurdle, but Hindalco investors take it in stride

Hindalco shares did not fall even as its US-arm Novelis’s proposed purchase of Aleris hit a hurdleFirm’s assurance that it is committed to closing the deal may have brought some comfort

2 min read5 Sep 2019
Companies

Hindalco not aware of any EU clearance yet on Aleris buy, says Birla

Last year, Hindalco had announced its acquisition of Aleris at an enterprise value of $2.58 billion, through its US subsidiary NovelisThe deal is currently awaiting regulatory approvals in the US, the EU and China

1 min read30 Aug 2019
Companies

Aleris deal on course despite EU roadblock, says Hindalco’s Pai

Hindalco and its subsidiary, Utkal Alumina, posted a net profit of ₹506 cr for the March quarter, down 18% from a year agoHindalco announced last July that its US unit Novelis would buy Aleris at an enterprise value of $2.58 billion

1 min read16 May 2019
Companies

Hindalco taps banks for US aluminum M&A deal

Novelis, the US unit of Hindalco, has mandated a 20-strong bank group to arrange a $2.28 billion dual-tranche loanThe loan will finance the purchase of US-based Aleris

1 min read13 Feb 2019
Market

Q2 results: Hindalco’s domestic outlook hinges on foreign actors

How Hindalco does from here will depend more on external factors such as China's economic strength and a patch-up on the trade war front

2 min read5 Nov 2018
Market

Novelis may occupy driver’s seat at Hindalco’s consolidated business

Hindalco's US Novelis, which recently acquired Aleris Corp., seems to be on a steady footing, but the concern is if the trade wars will affect volumes or profitability

2 min read13 Aug 2018
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