Hindalco Industries logo

HINDALCO - Hindalco Industries News Story

₹442.5 21.2  5.0%

Last Trade - 10:27am

Basic Materials
Large Cap
Market Cap £9.49bn
Enterprise Value £14.46bn
Revenue £16.53bn
Position in Universe 54th / 3176

BREAKINGVIEWS-Indian tycoon has golden opportunity in aluminium

Wed 10th January, 2018 2:27am
(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Una Galani MUMBAI, Jan 10 (Reuters Breakingviews) - A reported $2.5 bln bid from Hindalco for U.S. aluminium producer Aleris would mark a shift in focus to growth for Kumar Mangalam Birla. The headline price is punchy. But surging demand for electric vehicles and more fuel-efficient petrol cars should be great news for the metal. Full view will be published shortly. On Twitter https://twitter.com/ugalani CONTEXT NEWS - India's Hindalco has submitted a $2.5 billion bid for aluminium producer Aleris, Bloomberg reported on Jan. 4, citing people with knowledge of the matter. - Mumbai-listed Hindalco made a non-binding offer through its privately held U.S. unit, Novelis, the sources added. - Ohio-based Aleris is owned by Oaktree Capital and Apollo Global Management. Aleris had earlier agreed to sell itself to Zhongwang USA for an enterprise value of $2.3 billion. That deal was scrapped after U.S. officials raised national security concerns about the Chinese-backed bidder. - Hindalco has a market capitalisation of $9.8 billion. - For previous columns by the author, Reuters customers can click on GALANI/ - SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS: http://bit.ly/BVsubscribe <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ BREAKINGVIEWS - Vodafone's Indian deal has an elephant in the room urn:newsml:reuters.com:*:nL4N1FY194 Bloomberg article https://www.bloomberg.com/news/articles/2018-01-04/hindalco-is-said-to-bid-for-2-5-billion-aluminum-firm-aleris ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Editing by Quentin Webb and Katrina Hamlin) ((una.galani@thomsonreuters.com; Reuters Messaging: una.galani.thomsonreuters.com@reuters.net)) Keywords: HINDALCO INDIA/BREAKINGVIEWS
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.