 "Hindalco gains 7% on acquisition of Aleris by Novelis")
Shares of Hindalco Industries were up 7% at Rs 220 per share on the BSE in early morning trade after the company announced the acquisition of a global aluminium rolled products major Aleris at an enterprise value of US $ 2.58 billion.
The acquisition will be made through the Hindalco’s wholly owned subsidiary, Novelis Inc. Aleris has a global footprint with manufacturing facilities in Europe, the U.S. and Asia.
“The acquisition strengthens Novelis’ leadership position in the fastest growing automotive segment with best in class assets in Lewisport, U.S. and Duffel, Belgium. It marks Novelis’ entry into the
The acquisition will be made through the Hindalco’s wholly owned subsidiary, Novelis Inc. Aleris has a global footprint with manufacturing facilities in Europe, the U.S. and Asia.
“The acquisition strengthens Novelis’ leadership position in the fastest growing automotive segment with best in class assets in Lewisport, U.S. and Duffel, Belgium. It marks Novelis’ entry into the
