China’s biggest-ever purchase of an overseas metals processor is at risk of melting down as a key US regulatory panel stands in its way and other deals are increasingly at risk of sharing the same fate.
The Committee on Foreign Investment in the United States Cfius, has for the second time flagged national security concerns over the $2.33 billion purchase of US aluminium and alloys maker Aleris Corporation by China Zhongwang Holdings, the country’s largest producer of industrial aluminium extrusion products.
The two parties therefore withdrew their application for Cfius approval, Aleris said on August 9. According to the terms of the transaction, the takeover agreement...
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