TPG Completes Acquisition of Aleris International, Inc.
19 Diciembre 2006 - 3:01PM
PR Newswire (US)
BEACHWOOD, Ohio, Dec. 19 /PRNewswire-FirstCall/ -- Aleris
International, Inc. (NYSE:ARS) announced today the completion of
the acquisition of the Company by affiliates of Texas Pacific Group
(TPG). On August 7, 2006, affiliates of TPG entered into a merger
agreement with the Company to acquire the Company for a purchase
price of approximately $1.7 billion plus the assumption of or
repayment of approximately $1.6 billion of debt. Under the terms of
the merger agreement, Company stockholders will receive $52.50 per
share in cash without interest. Steve Demetriou, Chairman and CEO
of Aleris said, "We are very pleased to complete this transaction
with TPG which has created significant value for shareholders while
positioning Aleris with a partner committed to our continued growth
as a private company." Aleris's common stock will cease trading on
the New York Stock Exchange at market close today, and will be
delisted. As soon as practicable, a paying agent appointed by TPG
will send information to all Company stockholders of record,
explaining how they can surrender Company stock in exchange for
$52.50 per share in cash without interest. Stockholders of record
should await this information before surrendering their shares.
Stockholders who hold shares through a bank or broker will not have
to take any action to have their shares converted into cash,
because these conversions will be handled by the bank or broker.
About Aleris International, Inc. Aleris International, Inc. is a
global leader in aluminum rolled products and extrusions, aluminum
recycling and specification alloy production. The Company is also a
recycler of zinc and a leading U.S. manufacturer of zinc metal and
value-added zinc products that include zinc oxide and zinc dust.
Headquartered in Beachwood, Ohio, a suburb of Cleveland, the
Company operates 50 production facilities in North America, Europe,
South America and Asia, and employs approximately 8,600 employees.
For more information about Aleris, please visit our Web site at
http://www.aleris.com/. About TPG TPG is a private investment
partnership that was founded in 1992 and currently has more than
$30 billion of assets under management. With offices in San
Francisco, London, Hong Kong, Fort Worth and other locations
globally, TPG has extensive experience with global public and
private investments executed through leveraged buyouts,
recapitalizations, spinouts, joint ventures and restructurings.
Visit http://www.tpg.com/ SAFE HARBOR REGARDING FORWARD-LOOKING
STATEMENTS Forward-looking statements made in this news release are
made pursuant to the safe harbor provision of the Private
Securities Litigation Reform Act of 1995. These include statements
that contain words such as "believe," "expect," "anticipate,"
"intend," "estimate," "should" and similar expressions intended to
connote future events and circumstances, and include statements
regarding future actual and adjusted earnings and earnings per
share; future improvements in margins, processing volumes and
pricing; overall 2006 operating performance; anticipated higher
adjusted effective tax rates; expected cost savings; success in
integrating Aleris's recent acquisitions, including the acquisition
of the downstream aluminum businesses of Corus Group plc; its
future growth; an anticipated favorable economic environment in
2006; future benefits from acquisitions and new products; expected
benefits from changes in the industry landscape and post-hurricane
reconstruction; and anticipated synergies resulting from the merger
with Commonwealth, the acquisition of the downstream aluminum
businesses of Corus Group plc and other acquisitions. Investors are
cautioned that all forward-looking statements involve risks and
uncertainties, and that actual results could differ materially from
those described in the forward-looking statements. These risks and
uncertainties would include, without limitation, Aleris's levels of
indebtedness and debt service obligations; its ability to
effectively integrate the business and operations of its
acquisitions; further slowdowns in automotive production in the
U.S. and Europe; the financial condition of Aleris's customers and
future bankruptcies and defaults by major customers; the
availability at favorable cost of aluminum scrap and other metal
supplies that Aleris processes; the ability of Aleris to enter into
effective metals, natural gas and other commodity derivatives;
continued increases in natural gas and other fuel costs of Aleris;
a weakening in industrial demand resulting from a decline in U.S.
or world economic conditions, including any decline caused by
terrorist activities or other unanticipated events; future utilized
capacity of Aleris's various facilities; a continuation of building
and construction customers and distribution customers reducing
their inventory levels and reducing the volume of Aleris's
shipments; restrictions on and future levels and timing of capital
expenditures; retention of Aleris's major customers; the timing and
amounts of collections; currency exchange fluctuations; future
write-downs or impairment charges which may be required because of
the occurrence of some of the uncertainties listed above; and other
risks listed in Aleris's filings with the Securities and Exchange
Commission (the "SEC"), including but not limited to Aleris's
annual report on Form 10-K for the fiscal year ended December 31,
2005, and quarterly report on Form 10-Q for the quarter ended June
30, 2006, the 10-Q for the quarter ended September 30, 2006, and
current report on Form 8-K filed with SEC on November 29, 2006,
particularly the sections entitled "Risk Factors" contained
therein. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050504/CLW056LOGO )
http://www.newscom.com/cgi-bin/prnh/20050504/CLW056LOGO
http://photoarchive.ap.org/ DATASOURCE: Aleris International, Inc.
CONTACT: Michael D. Friday of Aleris International, Inc.,
+1-216-910-3503; or Owen Blicksilver of Owen Blicksilver PR, Inc,
+1-516-742-5950 Web site: http://www.aleris.com/
http://www.tpg.com/
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