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Hindalco Industries Ltd.'s plan to acquire US-based AluChem Companies Inc. has stalled due to the federal government shutdown that has impaired a regulatory body. The all-cash deal valued at $125 million or Rs 1,075 crore was announced in June.
The Aditya Birla Group company had filed a 'short-form' declaration to enable an expedited review of the transaction with the Committee on Foreign Investment in the United States on Aug. 6, Hindalco said in a stock exchang filing on Thursday.
CFIUS accepted the submission on Aug. 12, thereby commencing a 30-day assessment period that concluded on Sept. 10. Subsequently, CFIUS requested a 'long-form' declaration, which was duly submitted on Sept. 30.
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