CellMark makes offer to acquire Alcan International
CellMark, a forest products marketing group
based in Gothenburg, Sweden, has made a binding offer to acquire
the Alcan International Network (AIN) business from Constellium.
Constellium is owned by affiliates of Apollo Global Management,
Rio Tinto and Fonds Stratégique d’Investissement, the French
sovereign investment fund.
AIN’s worldwide operations specialize mainly in the trading and
distribution of products for the aluminium, steel and foundry
industries and semi-fabricated products. AIN recorded approximately
$500 million of revenues in 2010.
Constellium will respond to CellMark’s binding offer following
the completion of information and consultation requirements with
the relevant employee representation bodies. Completion of the
acquisition, which is expected to occur in December 2011 or early
2012, is subject to various conditions, including regulatory
filings in a number of jurisdictions.
Sir Adrian Montague, chairman of CellMark Investment AB, said,
“The technical expertise and strong market connections of AIN
would complement our existing operations, and CellMark’s access
to capital, its cultural values and risk management expertise
would offers our new AIN colleagues exciting opportunities to
grow and develop AIN’s business alongside CellMark’s core activities
in forest products. The combination of these two businesses would
provide a platform to strengthen and develop our supply chain
services for both commodities and specialties.”