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Press Room
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SGF signs letter of intent to sell its 40% equity interest in Corus LP
Montréal, March 16, 2006 - Société générale de financement du Québec (SGF) and Corus Group plc (LSE/AEX;CS ;NYSE: CGA) today announced the signature of a Letter of Intent for the proposed sale to Aleris International, Inc. (NYSE: ARS) of their respective partnership interests in Corus LP, a manufacturer of downstream aluminium rolled products with facilities in Cap-de-la-Madeleine and Toronto.
Corus Group plc also intends to sell to Aleris its other downstream aluminium rolled products and extrusions businesses in Europe and China. Corus’ internal consultation and advice processes related to the transaction have commenced.
The proposed transaction is strongly supported by Corus LP’s management, as it is part of Aleris’ strategy to expand its activities in Europe and North America through acquisitions.
The proposed transaction will be subject to certain external regulatory clearances.
Société générale de financement du Québec (SGF) is an industrial and financial holding company. Its mission is to carry out economic development projects, especially in the industrial sector, in cooperation with partners and in accordance with accepted requirements for profitability and the Government of Quebec’s economic development policy.
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Source : Marie-Claude Lemieux
Senior advisor, Communications
Société générale de financement du Québec
Tel.:
Cell:
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