Concord increases stake in New Day Aluminum in deal with Dada

Investment and management company Dada Holdings has sold a portion of its stake in New Day Aluminum Holdings to Concord Resources Ltd, the companies said.

The deal, for an undisclosed sum, gives the commodities merchant trader a substantially larger equity interest in New Day, which is the parent of Noranda Bauxite, Noranda Alumina and Niche Industrial Chemicals.
In addition to retaining a minority ownership interest in New Day, Dada will retain majority ownership of the European operations located in France and England, and Concord will retain its minority shareholding in those operations.
Additional terms were not disclosed.

Concord initially invested in New Day's operations in 2018, taking a minority...

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