South Korea: Novelis buys minority shares in subsidiary

Novelis has reached an agreement with Taihan Electric Wire Co (TEC) and other minority shareholders of its subsidiary Novelis Korea Limited to purchase 31.2% of the outstanding shares in the Korean corporation for approximately US$350m in an all-cash transaction.   Novelis currently owns 67.9% of Novelis Korea and, following the closing Subscribe to Automotive World … Continued

• By Webmaster
• November 21, 2011