Alcoa Corporation
Alcoa Initiates Exclusive Negotiations for Potential Acquisition of Alumina Shares
Summary
On February 26, 2024, Alcoa Corporation entered into a Transaction Process and Exclusivity Deed with Alumina Limited and AAC Investments Australia Pty Ltd, a wholly owned subsidiary of Alcoa, to negotiate exclusively for a potential transaction where AAC Investments Australia would acquire all shares of Alumina. Under the terms, each Alumina shareholder would receive 0.02854 CHESS Depositary Interests for each Alumina share, with each CDI representing beneficial ownership in one share of common stock of Alcoa. The agreement also includes a Conditional Share Sale Agreement with Allan Gray Australia Pty Ltd, giving Alcoa the right to acquire up to 577,434,602 shares of Alumina held by Allan Gray Australia. The transaction is subject to the entry into a scheme implementation agreement and other conditions.
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About Alcoa Corporation
Alcoa Corporation is a premier global producer of aluminum, a key metal used extensively across various industries such as automotive, aerospace, construction, and packaging. Alcoa’s operations encompass the production of bauxite, mining, refining alumina, and the smelting and processing of aluminum products. Headquartered in Pittsburgh, Pennsylvania, Alcoa is known for its comprehensive supply chain management within the industry, contributing to its efficiency and competitive edge. The company holds a significant role in advancing sustainable practices in metal production, targeting reduced carbon emissions and increased recycling efforts. Innovations by Alcoa in aluminum solutions have made it pivotal in lightweighting applications, particularly in automotive and aerospace sectors, where reducing weight enhances fuel efficiency and performance. As one of the world's largest and most recognized aluminum companies, Alcoa Corporation contributes to global manufacturing capabilities, making it an integral player in both the primary and fabricated aluminum markets.
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