Noranda Aluminum, Inc. filed a motion in the Court for the sale of certain assets on June 13, 2016. The debtor seeks the Court’s approval for the sale of certain assets to Beagle Acquisition Corp., the stalking horse bidder, for a purchase price of $302.5 million pursuant to the asset purchase agreement dated June 13, 2016. The purchase price consists of $288 million in cash subject to adjustment to the extent working capital is less than or greater than $60 million. The debtor’s assets include substantially all of the assets of flat rolled products business owned and operated by Norandal USA, Inc. The buyer shall submit 1% of the cash consideration as indemnity Escrow amount and 2% of the cash consideration as specified Escrow amount. To qualify as a qualified bidder, interested parties should submit their bids by June 29, 2016. The initial minimum overbid should be at least $0.5 million more than the stalking horse bid. The debtor has scheduled an auction on July 7, 2016. At the auction, the subsequent bids would be in increments of $0.5 million. A qualified bid shall be accompanied by a good faith deposit of 10% of the purchase price. The sale hearing is scheduled for July 14, 2016. The transaction shall close no later than August 31, 2016. Justin R. Howard and Dennis J. Connolly of Alston & Bird LLP acted as legal advisor to the buyer.