Hindalco’s Novelis agrees to sell two China entities for about $265 million
Novelis signed an agreement to sell two Chinese subsidiaries, with closing expected within 12 months subject to regulatory approvals.
Hindalco Industries said on November 15 that its subsidiary Novelis had signed a definitive agreement to sell Novelis (China) Aluminum Products Co. and Novelis (Shanghai) Aluminum Trading Co. to Shenzhen Hongzhi Industrial Investment Co. or affiliates.
The consideration is approximately $265 million, with a contingent earn-out of up to $10 million if specified conditions are achieved. Closing is expected within 12 months of the November 14 agreement date and remains subject to regulatory approvals, according to the filing made to Indian exchanges.
The two entities reported $376 million in net sales for financial year 2026, equal to about 1% of Hindalco’s consolidated sales. They contributed $259 million to Hindalco’s net worth at the end of that financial year, or approximately 2% of the group total. The buyer is not part of Hindalco’s promoter group, and the filing said the transaction is not a related-party transaction.
The filing describes the agreement as a proposed disposal by Novelis, Hindalco’s subsidiary. It does not state that completion has occurred; the sale remains conditional on the stated approvals.
Sale consideration
~$265M
plus possible $10M earn-out
FY2026 sales
$376M
about 1% of Hindalco sales
FY2026 net worth
$259M
about 2% of Hindalco net worth
Expected closing
Within 12 months
subject to approvals
Sources
This story describes figures the company has published. It is for information only and is not investment advice or a recommendation to buy, sell or hold any security. Check the original filings before relying on any figure. Stoqly is not affiliated with the SEC.
