EC approves Apollo/Alcan deal

摘要

The EuropeannCommission has decided not to oppose the proposednacquisition of a majority stake in Alcan EngineerednProducts by investment company Apollo Group, the EC saidnlast week. AEP produces and sells rolled and extrudednaluminum and related products. Anglo-Australian miner RionTinto said in August it had received a binding offer for 61%nof AEP from funds affiliated with Apollo Global Managementnand the Fonds Strategique d’Investissement. Under thenterms of the deal, Apollo will become the managingnshareholder in AEP with a 51% interest in a new holdingncompany for AEP . The FSI will hold 10% and Rio Tinto willnretain the balance of 39%.