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Aleris to Be Acquired by Zhongwang

As reported by The Wall Street Journal, Reuters and other media outlets, Aleris Corporation, a global aluminum rolled products producer and portfolio company of Paul, Weiss client Oaktree Capital Management, announced that it has agreed to be acquired by Zhongwang USA LLC for $1.11 billion in cash. Under the transaction, which is expected to close in the first quarter of 2017, Zhongwang USA will also take on Aleris' $1.22 billion in net debt.

The Paul, Weiss team acting as legal advisors to Oaktree Capital includes corporate partners Kenneth Schneider and Ellen Ching; tax partner Patrick Karsnitz; and employee benefits partner Robert Fleder.

August 29, 2016

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