Aleris to sell recycling and alloy businesses

摘要

Aleris has signed a definitive agreement to sell its North American and European Recycling and Specification Alloys businesses to an affiliate of Signature Group Holdings. The sale includes 18 production facilities in North America and six in Europe. The facilities offer a range of metal recycling services and specification alloy products. Signature has agreed to pay an aggregate of $525 million for the businesses in the form of $465 million in cash with the remainder in cash and preferred shares of Signature Group Holdings, subject to customary post-closing adjustments.