(LiveMint)
Almost eight months after the Aditya Birla Group began negotiations to buy Ohio-based aluminium maker Aleris Corp., a definitive agreement is in sight, two people aware of the development said, adding a deal is likely to be signed in the next few weeks.
According to the people cited above, who spoke on condition of anonymity, negotiations had slowed down primarily due to antitrust issues surrounding Aleris. The talks have revived after the managements of Aleris and the Aditya Birla Group, represented by its North America subsidiary Novelis, reached an agreement over the extent of responsibility both sides will bear to pass the scrutiny of the Committee on Foreign Investment (CFI).
CFI, the US government body that reviews foreign investments in domestic firms and determines whether those potential investments impact national security, had earlier rejected an acquisition bid for Aleris from Chinese aluminium maker Zhongwang.
