Hindalco's AluChem Acquisition Review Faces Delay Amid U.S. Government Shutdown

Hindalco Industries Limited , a major player in the aluminum and copper industry, has provided an update on the acquisition process of AluChem Companies, Inc. by its step-down subsidiary, Aditya Holdings LLC. The acquisition, which was initially announced on June 24, 2025, is currently undergoing review by the Committee on Foreign Investment in the United States (CFIUS), but has encountered delays due to the ongoing U.S. federal government shutdown.

Timeline of Events

Date	Event
August 6, 2025	Short-form declaration submitted to CFIUS
August 12, 2025	CFIUS accepts the submission, initiating a 30-day assessment period
September 10, 2025	30-day assessment period concludes
September 30, 2025	Long-form declaration submitted to CFIUS
October 1, 2025	U.S. federal government shutdown begins, tolling statutory deadlines

Impact of Government Shutdown

The ongoing U.S. federal government shutdown, which began on October 1, 2025, has significantly impacted the review process. As a result of the shutdown:

Statutory deadlines under the CFIUS review framework have been tolled.
The formal acceptance of the final filing by CFIUS is pending.
The review process is expected to take up to approximately 105 days to complete once the shutdown ends and CFIUS formally accepts the final filing.

Next Steps

Hindalco Industries has stated that it will provide further updates upon completion of the review. The company emphasized that all other details pertaining to the acquisition, as communicated in their letter dated June 24, 2025, remain unchanged.

Company Statement

In its official communication to the stock exchanges, Hindalco Industries stated, "The Company will provide further updates upon completion of the review. All other details, as per our letter dated June 24, 2025, remain unchanged."

This development highlights the potential impact of geopolitical events on cross-border corporate actions, particularly in the context of foreign investments in the United States. As the situation evolves, investors and stakeholders will be keenly watching for further updates on this significant acquisition in the aluminum industry.

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+0.95%	+1.58%	+6.23%	+25.96%	+10.50%	+334.79%

Hindalco Industries Limited , a leading aluminum and copper manufacturing company, has announced significant financial developments for its wholly owned subsidiary, Novelis Inc. The updates include a new municipal bond agreement and amendments to an existing term loan facility.

Municipal Bond Agreement

Novelis Inc. has entered into a loan agreement related to the issuance of $100.00 million in municipal bonds. This move is expected to strengthen the company's financial position and potentially provide favorable financing terms.

Term Loan Facility Amendment

In addition to the municipal bond agreement, Novelis has also amended its existing Term Loan credit facility. While specific details of the amendment were not disclosed, such modifications typically aim to improve financial flexibility or adjust terms to better suit the company's current needs and market conditions.

Regulatory Filings and Transparency

As part of its commitment to transparency and regulatory compliance, Novelis Inc. has filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC) detailing these financial updates. Hindalco Industries Limited has also informed the relevant stock exchanges, including the Bombay Stock Exchange (BSE), National Stock Exchange of India (NSE), and Luxembourg Stock Exchange, about these developments.

Impact and Outlook

These financial maneuvers by Novelis Inc. demonstrate the company's active management of its capital structure and liquidity position. The $100.00 million municipal bond agreement, in particular, could provide Novelis with additional financial resources to support its operations or strategic initiatives.

For Hindalco Industries Limited, these developments at its wholly owned subsidiary could have positive implications for the group's overall financial health and strategic positioning in the global aluminum and copper markets.

Investors and stakeholders can access more detailed information about these financial updates on the official websites of Hindalco Industries Limited ( www.hindalco.com ) and Novelis Inc. ( www.novelis.com ).

As the aluminum industry continues to evolve, Hindalco and its subsidiaries appear to be taking proactive steps to maintain financial flexibility and support their business objectives in a dynamic market environment.