Zhongwang USA to Acquire Aleris for $2.33B
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Aleris To Be Acquired By Zhongwang USA LLC
August 29, 2016 8:00 AM EDTCLEVELAND, Aug. 29, 2016 /PRNewswire/ -- Aleris Corporation, a global aluminum rolled products producer, announced today that it has entered into a definitive agreement to be acquired by Zhongwang USA LLC, a company majority-owned and led by Mr. Liu Zhongtian, founder of China Zhongwang Holdings Limited ("China Zhongwang", HKEX code: 01333). The aggregate value of Aleris amounts to $2.33 billion, comprising $1.11 billion in cash for the equity to be paid by Zhongwang USA, plus $1.22 billion in net debt.
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