May 12, 2020 / 10:55 PM / 19 days ago

U.S. proposes divestiture as condition for Novelis purchase of Aleris

WASHINGTON, May 12 (Reuters) - The U.S. Justice Department said on Tuesday it was proposing that Novelis Inc divest Aleris Corp’s entire aluminum auto body sheet operations in North America as a condition of its planned acquisition.

“Today’s proposed divestiture preserves competition in the market for aluminum automotive body sheet and protects automakers and American consumers by requiring the full divestiture of Aleris’s North American aluminum automotive body sheet operations,” Assistant U.S. Attorney General Makan Delrahim said in a statement.

Reporting by Eric Beech; Editing by Mohammad Zargham

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