Novelis Inc, a subsidiary of Aditya Birla-led Hindalco Industries, has said that the European Commission has approved its proposed acquisition of Aleris Corporation.The approval is conditioned upon the sale of Aleris' plant at Duffel in Belgium which produces aluminium for the automotive and specialities markets.Novelis is working expeditiously to market the plant to potential buyers with the chosen counterparty and the definitive agreement for divestiture subject to European Commission approval.With this conditional approval in the European Union, as well as a clear path forward for approval in the United States, Novelis continues to work closely with the Chinese State Administration for Market Regulation (SAMR) to receive its approval."The announcement is another step forward in bringing Novelis and Aleris together which will benefit our customers, employees and the aluminium industry as a whole," said Steve Fisher, President and CEO, Novelis Inc."Overall, this transaction will ...
