Waste Generator Briefs.(Novelis Inc. sold to Hindalco Industries Ltd.)(Richard Branson and Al Gore offering prize for developing technology to tackle pollution)(Environmental Protection Agency)
Waste News, February, 2007
Beverage Containers Novelis sold to India firm for $6 billion An Indian multinational conglomerate plans to buy Atlanta-based Novelis Inc., one the largest U.S. recycled aluminum can consumers, for $6 billion in cash and debt assumption. Novelis' board of directors agreed to the buyout, which will include $2.4 billion in debt.
Novelis shareholders will receive $44.93 per common share under the terms of the agreement with Hindalco Industries Ltd., India's largest nonferrous metals company. Novelis is one of the world's largest rolled aluminum producers. Hindalco, based in Mumbai, India, is the flagship company of the Aditya Birla Group, a multinational conglomerate. The companies expect to close the deal during the second quarter of this...
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