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Novelis’ $2.6 billion acquisition of Aleris to be approved by EU antitrust regulators
2019/09/02
It was reported that the EU antitrust regulators will approve the US$2.6 billion acquisition of Aleris Corporation from Novelis Inc., a US-based industrial aluminum company owned by Indian Hindalco Industries.

The European Commission (EC) has been concerned that the acquisition might reduce competition and hike prices, especially for automobile manufacturers. However, Novelis has agreed to sell Aleris' Belgian plant in order to eliminate the EC’s concerns.

The EC scheduled to make a ruling on this case before October 7th but declined to comment.

The deal still needed regulatory approval from the US and China.
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