Hindalco Industries (NSE:HINDALCO) and US specialty alumina producer AluChem Companies have terminated their proposed US$125 million ($180 million) transaction following extended closing delays.
The companies jointly ended the equity purchase agreement (EPA) on 1 October, according to a Bombay Stock Exchange filing.
Under the EPA announced in June 2025, Hindalco’s wholly owned subsidiary Aditya Holdings would have acquired a 100% interest in AluChem.
The proposed acquisition would have added 60,000 tonnes of annual specialty alumina capacity across three US manufacturing facilities in Ohio and Arkansas.
AluChem produces calcined, reactive, and tabular aluminas used in refractories, ceramics, electronics, and other industrial applications.
Hindalco previously disclosed that the transaction was undergoing review by the Committee on Foreign Investment in the United States (CFIUS). A partial US federal government shutdown suspended the review’s statutory timelines in February.
The latest filing attributes the termination to delays beyond either party’s control but does not provide further details or indicate whether the regulatory review reached a conclusion.
Hindalco says its strategy of expanding its technology-led specialty alumina portfolio remains unchanged. The company intends to continue evaluating growth opportunities, including potential investments in the US.
AluChem will continue operating independently. The parties have not disclosed whether the termination involves any payment or other financial obligation.
Hindalco is an Indian aluminium and copper producer with operations spanning mining, alumina refining, smelting, recycling, and downstream manufacturing.
Write to France Pinzon at Mining.com.au
Main image: AluChem Companies
