Alpha Gen Capital
Alpha Gen Capital • 31 Comments
Mon, Aug. 29, 1:48 PM
- Shares of aluminum makers are higher after privately-held aluminum rolled products producer Aleris agreed to be acquired by China's Zhongwang for $2.33B, in a bet that the U.S. automotive aluminum sector will be the industry's next big growth market.
- Since 2010, Aleris has been owned and controlled by a group led by investment funds of Oaktree Capital Management (NYSE:OAK).
- Aleris is in the midst of a $350M expansion of its Lewisport, Ky., rolling mill to produce automotive body sheet for U.S. auto manufacturers, and hopes to produce 200K metric tons/year and begin shipping in 2017.
- Shares of other publicly traded aluminum companies are up, including Alcoa (AA +2.4%), Century Aluminum (CENX +2.7%), Kaiser Aluminum (KALU +1%) and Constellium (CSTM +12.9%).
Oct. 17, 2014, 10:29 AM
- Signature Group (OTCQX:SGGH +24.2%) agrees to acquire the recycling business of aluminum fabricating company Aleris Corp. for $525M in cash and stock.
- The unit is the world's largest independent recycler of aluminum, Signature says, adding that it believes the use of remelted aluminum will outpace consumption of primary aluminum for the next decade
- Aleris is owned by Oaktree Capital Management (OAK +0.9%).
Jun. 9, 2014, 9:08 AM
- Oaktree Capital (OAK) agrees to purchase Highstar Capital for undisclosed terms, with the deal expected to close in Q3, at which time Oaktree will become manager of the Highstar Fund IV with $2.3B in AUM.
Nov. 12, 2012, 9:28 AM
Oaktree Capital (OAK) has acquired a 7.23% stake in recently-emerged-from-Chapter 11 Dynegy (DYNIQ.PK). The house of Howard Marks is one of the largest debt holders of the energy company, which last week reported a loss of $41M for Q3 (less than a pre-bankruptcy loss of $129M a year ago).| Nov. 12, 2012, 9:28 AM