Novelis Inc, a subsidiary of Hindalco Industries, has entered into a definitive agreement for the sale of Novelis (China) Aluminum Products Co and Novelis (Shanghai) Aluminum Trading Co, its wholly-owned subsidiaries.
The assets were sold to Shenzhen Hongzhi Industrial Investment Co for $265 million (₹2,490 crore), subject to an additional contingent earn-out of $10 million (₹94 crore) upon achievement of specified condition, said the Aditya Birla Group company, Hindalco Industries, in an announcement on Sunday.
Upon consummation of the proposed transaction, the Novelis China entities will cease to be subsidiaries of the company.
The Novelis China entities had $376 million (₹3,319 crore) of net sales in FY26, which represented about one per cent of the company’s net sales during that period.
At the end of the company’s last financial year, the Novelis China entities contributed $259 million (₹2,420 crore) towards the company’s net worth, which represented about 2 per cent of the company’s net worth.
The agreement for sale was executed on Saturday. The closing of the deal is expected within 12 months of the execution date, subject to regulatory approvals.
Published on November 15, 2026
