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Novelis closes deal to acquire Aleris

Novelis (OTC:HNDNF) says it closed its merger transaction with U.S. value-added aluminum producer Aleris (OTC:ALSD) for $2.8B.

Novelis confirms it will sell Aleris’ Duffel, Belgium, plant for €310M ($339M) to Liberty House Group in London as part of regulatory approval by the European Commission and U.S. Justice Department to close the deal; Aleris’ Lewisport, Ky., plant will also be divested.

The deal gives Novelis scale to expand in other regions, as well as allow further optimization of existing assets in China, CEO Steve Fisher says.

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