Novelis Agrees to Sell Two China Units for $265 Million
Hindalco said its US-based subsidiary Novelis agreed to sell two Chinese subsidiaries for about $265 million. The proposed sale includes the subsidiary operating Novelis's automotive aluminium plant in Changzhou.
New Delhi, Nov. 15 -- Hindalco Industries on Sunday said Novelis Inc., its US-based subsidiary, has agreed to sell two Chinese subsidiaries for about USD 265 million. The proposed sale includes the subsidiary that operates Novelis's automotive aluminium plant in Changzhou, China.The deal also provi…