Novelis a step further to complete Aleris acquisition

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On 26 July 2018, Novelis announced that it signed a definitive agreement to acquire Aleris Corporation. Novelis has meanwhile received approval from antitrust regulators in China, the European Commission, and also from the United States to close the transaction.

In the US, Novelis’ ability to acquire Aleris’ automotive plant in Lewisport, Kentucky, will be resolved through an arbitration proceeding in the fourth quarter. The EC’s approval is conditioned on Novelis entering into an agreement to divest Aleris’ Duffel plant to a buyer approved by the EC. The EC is currently reviewing the proposed buyer of the plant, Liberty House Group, a UK-based industrial conglomerate.

Novelis remains fully committed to completing the transaction and continues to work with all relevant parties to do so as quickly as possible, the company said in a recent statement.

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