Kaiser’s European unit will bring $175 million.
Kaiser Aluminum & Chemical reported last week that it will sell Kaiser Aluminium Europe to Hoogovens Groep but did not reveal the terms of the deal. As part of the “understanding” reached with Hoogovens, Kaiser Aluminium Europe would repay $20 million in debt it owes to Kaiser Aluminum and would continue to be liable for $93 million in existing obligations to third parties, Kaiser Aluminum said.
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