Equities

Reuters exclusively reports Novelis' $2.6 billion Aleris deal set for EU green light

Reuters exclusively reports Novelis' $2.6 billion Aleris deal set for EU green light

Reuters exclusively reported that U.S. aluminum producer Novelis, which is owned by India’s Hindalco Industries, is set to secure EU antitrust approval for its $2.6 billion bid for Aleris. Reuters sources said the EU green light is conditional on a substantial package of assets offered by Novelis including asset sales. Hindalco’s shares jumped 3.7 percent a day after the Reuters story was published.