Previously, the European Commission 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 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 a part of the Gupta Family Group, intends to acquire the Duffel facility under its newly formed aluminum vertical called ALVANCE. The purchase price for the Duffel facility is 310 million.
With the European Commission's approval of the buyer, Novelis has now received all regulatory clearances and will move expeditiously to close the acquisition of Aleris
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