EU antitrust regulators said they had opened an investigation into US aluminum firm Novelis’s plans to buy processor Aleris reported Reuters.
“Our in-depth investigation aims to ensure that the acquisition of Aleris by Novelis does not have a negative impact on effective competition in aluminum markets and does not lead to less choice and higher prices for European industrial customers,” Europe’s antitrust chief Margrethe Vestager said in a statement.
Novelis, a US unit of India’s Hindalco Industries, said in July it had agreed to buy Aleris for $2.6 billion, giving it a foothold in supplying the aerospace industry and other value-added businesses globally.
Full Content: Reuters
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