March 25, 2019 / 5:34 PM / in a month

EU opens anti-trust probe into aluminum firm Novelis' plans to buy Aleris

The facility of aluminum producers Novelis, part of Aditya Birla Group, and Constellium are pictured in Sierre, Switzerland, September 12, 2018. Picture taken September 12, 2018. REUTERS/Denis Balibouse

BRUSSELS (Reuters) - EU anti-trust regulators said on Monday they had opened an investigation into U.S. aluminum firm Novelis Inc’s plans to buy processor Aleris Corps.

“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 U.S. unit of India’s Hindalco Industries Ltd, 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.

Reporting by Alissa de Carbonnel; Editing by Mark Potter

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