WASHINGTON -- Federal antitrust regulators on Friday approved the sale of Swiss mining company Xstrata PLC's aluminum business to a private equity firm.
According to a Federal Trade Commission notice, the government has completed its investigation of the sale and ended a waiting period on the transaction.
Xstrata said April 11 that it would sell its aluminum business, known as Noranda Aluminum, to private equity firm Apollo Management LP for $1.15 billion in cash. Noranda is made up of a primary smelter in Tennessee and three mills in Tennessee, North Carolina and Arkansas, among other operations.
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