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 2020In 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 2020On 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 2019Approval 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 2019Hindalco 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 2019Last 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 2019Hindalco 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 2019Novelis, 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 2019How 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 2018Hindalco'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 2018The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared