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Business deals

Apollo to buy Showa Denko's aluminum assets for $480m

US asset manager's first acquisition in Japan expands materials portfolio

Apollo will acquire Showa Denko's aluminum rolled products and aluminum can divisions.   © Reuters

TOKYO -- U.S. investment fund Apollo Global Management is set to purchase aluminum assets from Japanese materials producer Showa Denko in a deal expected to top 50 billion yen ($482 million), Nikkei has learned.

This will be Apollo's first Japanese acquisition since the company opened its offices here in 2018. The transaction is due to close by June.

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