Alcoa moves for South32 aluminium assets

US aluminium producer Alcoa has agreed to buy South32’s bauxite, alumina and aluminium assets in Australia, Brazil and South Africa in a deal worth $4.1bn upfront. The transaction will see Alcoa pay $3.1bn in cash and issue about 17m new shares valued at roughly $1bn. South32 could also receive up to $750m in contingent cash … Read full article →