 "Novelis firm on Aleris Corp acquisition as US files antitrust suit")
Aditya Birla Group company Hindalco Industries on Thursday faced a regulatory hurdle from the US Department of Justice (DOJ) on the Novelis-Aleris deal even as the European Union’s (EU’s) approval on this has almost been secured.
The American department has filed a civil antitrust lawsuit to block the purchase by Novelis, Hindalco’s US subsidiary. The case cited the need to preserve competition in the North American market for rolled aluminum sheet for automotive applications.
In response, Novelis said it was committed to closing its acquisition of Aleris Corporation, notwithstanding the DOJ lawsuit.
The DOJ and Novelis have
The American department has filed a civil antitrust lawsuit to block the purchase by Novelis, Hindalco’s US subsidiary. The case cited the need to preserve competition in the North American market for rolled aluminum sheet for automotive applications.
In response, Novelis said it was committed to closing its acquisition of Aleris Corporation, notwithstanding the DOJ lawsuit.
The DOJ and Novelis have
