Alcoa Agrees to Buy South32 Alumina and Bauxite Assets for Up to $5.6B
Alcoa agreed to acquire South32’s aluminium value-chain assets across Australia, Brazil and South Africa for an implied enterprise value of up to USD 5.6 billion. The consideration includes USD 3.1 billion in cash, about USD 1 billion in new shares, assumed net debt and lease liabilities of about USD 750 million, and up to USD 750 million in contingent cash payments through 2030. The combined operations are expected to produce about 14.8 million tonnes of alumina and 3.2 million tonnes of aluminium annually, with around USD 900 million in