Novelis Spin-off definition

Novelis Spin-off means the transfer to Novelis of substantially all of the aluminum rolled products businesses held by Alcan prior to the Pechiney Combination and Novelis becoming an independent publicly-traded company on 6 January 2005,
Sample 1

Examples of Novelis Spin-off in a sentence

  • This program replaces a $300 program that was discontinued in January 2005 due to the Novelis Spin-off.

  • Additionally, the Novelis Spin-off satisfied certain regulatory requirements associated with the acquisition of Pechiney including the requirement to divest either of the Neuf-Brisach rolling facilities or the AluNorf/Göttingen/Nachterstedt rolling facilities and allows Alcan to retain Ravenswood.

  • In October 2005, a new commercial paper program in the US was also initiated with Alcan Corporation as the issuer; it replaced the program of Alcan Aluminum Corporation, which was cancelled in early 2005 following the Novelis Spin-off.

  • According to agreements entered into by the Company as part of Novelis Spin-off, the Company has transferred to Novelis certain environmental contingencies.

  • As a result of the Novelis Spin-off, Alcan Executive Share Options held prior to the Novelis Spin-off were converted to new options, the number and exercise prices of which were based on the trading prices of Alcan Shares immediately before and immediately after the effective date of the spin-off to preserve the economic value of the option grants.

  • Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) (in millions of US$, except where indicated) 29 FINANCIAL INSTRUMENTS AND COMMODITY CONTRACTS (Continued) Subsequent to the Novelis Spin-off, these contracts represent third-party balances and transactions and they have been included in the relevant disclosure below.

  • On 6 January 2005, Alcan completed the Novelis Spin-off to its shareholders.

  • This change was triggered by the acquisition and subsequent integration of Pechiney, the Novelis Spin-off, a European legal reorganization, as well as reorganization of the European Primary Metal group.

  • See note 6 — Spin-off of Rolled Products Businesses for Alcan’s unaudited pro forma condensed consolidated financial information, giving effect to the Novelis Spin-off.

  • Following the Novelis Spin-off, Alcan settled amounts due from Novelis and received net proceeds of approximately $2.5 billion in the first quarter of 2005.

Related to Novelis Spin-off

  • Spin-Off shall have the meaning specified in Section 14.04(c).

  • Spin-Off Transaction means a distribution by the Company to its shareholders of all or any portion of the securities of any Subsidiary of the Company.

  • Topco has the meaning set out in the Preamble;

  • Newco has the meaning set forth in the first paragraph of this Agreement.

  • Spin-Off Date means the date on which the Spin-Off occurs.

  • Separation Time means the close of business on the tenth Trading Day after the earlier of:

  • Effective Time has the meaning set forth in Section 2.2.

  • SpinCo shall have the meaning set forth in the Preamble.

  • Surviving Corporation Common Stock has the meaning set forth in Section 1.7(a).

  • Reorganized Company means the Company, as reorganized as of the Effective Date in accordance with the Reorganization Plan.

  • Surviving Corporation has the meaning set forth in Section 2.1.

  • Run-off means any rainwater, leachate, or other liquid that drains over land from any part of a facility.

  • Spinoff means a transaction in which the Transferor Plan transfers only part of its assets and/or liabilities to the Transferee Plan. The Transferee Plan may be a New Plan that is created in the Spinoff, or it may be a preexisting plan that simply receives part of the assets and/or liabilities of the Transferor Plan.

  • Separation Transaction means the sale or separation of the non-television business of the Holding Company in whole or in part, whether by asset sale or otherwise.

  • SBS means the New York City Department of Small Business Services.

  • CVC means Citicorp Venture Capital, Ltd., a New York corporation.

  • Women Owned Business Enterprise or "WBE" means a firm awarded certification as a women owned and controlled business in accordance with City Ordinances and Regulations as well as a firm awarded certification as a women owned business by Cook County, Illinois. However, it does not mean a firm that has been found ineligible or which has been decertified by the City or Cook County.

  • Employee Share Scheme means a scheme established by a company, whether by means of a trust or otherwise, for the purpose of offering 10 participation therein solely to employees and officers of the company or a subsidiary of the company, either—

  • Spinco Subsidiaries means all direct and indirect Subsidiaries of Spinco immediately following the Contribution.

  • Control Group means the Company and its Affiliates.

  • Principal Stockholders CERTAIN TRANSACTIONS," "DESCRIPTION OF SECURITIES," and "SHARES ELIGIBLE FOR FUTURE SALE" have been reviewed by such counsel, and insofar as they refer to statements of law, descriptions of statutes, licenses, rules or regulations or legal conclusions, are correct in all material respects;

  • Spin-Off Documents means the Separation and Distribution Agreement, Transition Services Agreement, Tax Matters Agreement, Employee Matters Agreement and any other instruments, assignments, documents and agreements executed in connection with the implementation of the transactions contemplated by any of the foregoing.

  • Surviving Business Entity has the meaning assigned to such term in Section 14.2(b).

  • Corporate Group means the Corporation and its Subsidiaries treated as a single consolidated entity.