Lates News

Australian company South32 announced on Wednesday that it has agreed to sell most of its aluminum assets to American company Alcoa in a deal with an implied enterprise value of up to $5.6 billion. As per the agreement, Alcoa will acquire South32's stakes in the Australia-based Worsley Alumina, South Africa's Hillside Aluminium, Brazil's MRN bauxite mine, Brazil's alumina refinery, and Brazil's aluminum smelter. South32 also mentioned that Alcoa will take on around $1.2 billion in liabilities related to the assets. The transaction is expected to be completed in the second half of 2027, after which the Australian mining company plans to distribute a "fully franked" special dividend of around $500 million to shareholders. In another statement, Alcoa stated that this cash and stock deal is expected to generate approximately $900 million in net present value synergies by optimizing the operations of complementary assets.