Novelis is said to be in talks to buy out BP's (BP) 60% stake in their U.S. JV for $600M in...

|About: BP p.l.c. (BP)|By:, SA News Editor

Novelis is said to be in talks to buy out BP's (BP) 60% stake in their U.S. JV for $600M in cash. A deal would let BP shed another non-core asset, while allowing Novelis, a unit of Indian aluminum maker Hindalco Industries (HNDNF.PK), to increase its presence in the fast growing world aluminum market.