The consideration that Hindalco is paying for Aleris values the company at 7.2 times the target company's projected earnings before interest, tax, depreciation and amortisation (Ebitda) of $360 billion. That, according to Birla, is an attractive valuation for the company, given the quality of its assets around the world. The combined entity (Novelis and Aleris) will have revenues of $21 billion, and aluminium production of 4.7 million tonnes per annum.