BRIEF-South32 Announces $5.6B Aluminium Value Chain Sale To Alcoa

Alcoa Corporation

Alcoa Corporation

AA

0.00

July 1 (Reuters) - South32 Ltd S32.AX:

  • SOUTH32 LTD-US$5.6B ALUMINIUM VALUE CHAIN SALE AND CEO TRANSITION

  • GRAHAM KERR STEPS DOWN AS CEO, TO CONTINUE AS STRATEGIC ADVISOR

  • US$5.6B ALUMINIUM VALUE CHAIN SALE

  • TO RETURN $500 MILLION TO SHAREHOLDERS AS FULLY-FRANKED SPECIAL DIVIDEND

  • DEAL INCLUDES $3.1 BILLION CASH, $1 BILLION ALCOA SHARES, $750 MILLION DEBT, UP TO $750 MILLION CONTINGENT CASH

  • ALCOA TO BUY INTERESTS IN WORSELY ALUMINA, HILLSIDE, MRN, BRAZIL ALUMINA, BRAZIL ALUMINIUM

  • ALCOA TO ASSUME $1.2 BILLION IN REHABILITATION PROVISIONS

  • APPOINTS MATTHEW DALEY AS CEO AND MANAGING DIRECTOR

  • MOZAL ALUMINIUM EXCLUDED FROM DEAL, DIVESTMENT UNDER CONSIDERATION

  • US$5.6B ALUMINIUM VALUE CHAIN SALE AND CEO TRANSITION

  • APPOINTS MATTHEW DALEY AS CEO AND MANAGING DIRECTOR


Further company coverage: S32.AX


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