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Corus Group pic (Corus) and Aleris International Inc (Aleris) have signed a Letter of Intent for the proposed acquisition by Aleris of Corus' downstream aluminium rolled products and extrusions businesses for a gross consideration of euro826M (£570M).
Corus' equity stakes in its Canadian and Chinese joint ventures are also included within the proposed transaction. Corus' smelting operations would remain within Corus and would supply Aleris under a...