# Mitsubishi Materials to sell aluminium business to Apollo Global Management

Mitsubishi Materials Corp will sell its aluminium business, used for beverage cans and automotive parts, to U.S. investment fund Apollo Global Management for an undisclosed sum. The company will book a 29 billion yen loss as a restructuring charge.

- Type: Acquisition
- Announced: 2021-11-25
- Where: Japan
- Status: announced
- Products: aluminium products for beverage cans and automotive parts
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md), [Packaging](https://endata.com/sectors/packaging.md), [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Apollo Global Management](https://endata.com/companies/3851.md) (acquirer)
- [Mitsubishi Materials](https://endata.com/companies/8627.md) (partner)

## Sources

- [reuters.com](https://www.reuters.com/markets/deals/japans-mitsubishi-materials-sell-aluminium-business-us-fund-2021-11-25/), 2021-11-25: "Although the aluminium market is expected to grow globally, Mitsubishi Materials has decided to divest its aluminium business as it is difficult to find synergies with its other businesses such as copper products for electric vehicles and cement."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.