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HINDALCO - Hindalco Industries News Story

₹442.5 21.2  5.0%

Last Trade - 10:27am

Sector
Basic Materials
Size
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
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