Oaktree, Apollo turn to Chinese buyer for $2B+ Aleris exit
August 30, 2016
Aleris has agreed to be acquired by an affiliate of China Zhongwang for an aggregate value of $2.33 billion, including $1.11 billion in cash, bringing an end to a six-year holding period by a consortium led by Oaktree Capital Management and including Apollo Global Management. Aleris produces aluminum-rolled products for the aerospace, automotive, industrial and other industries, while China Zhongwang is a manufacturer of industrial aluminum extrusion products.
Oaktree and Apollo have owned Aleris ever since the company emerged from bankruptcy in 2010, when they contributed $645 million in new equity to the business. For an exit, the private equity investors turned to an increasingly common source: investors based in China with an appetite for deals in North America and Europe. Check out this datagraphic breaking down some of the most notable players and biggest deals in the trend of Eastern investors turning to the West.