Brief: Alcoa Says Co Enters Into Binding Agreement To Acquire Alumina Limited

Alumina

11/03/2024 22:45

March 11 (Reuters) - Alcoa Corp  AA.N :
    * ALCOA ENTERS INTO BINDING AGREEMENT TO ACQUIRE ALUMINA
LIMITED
    * ALUMINA LIMITED SHAREHOLDERS WOULD RECEIVE CONSIDERATION
OF
0.02854 ALCOA SHARES FOR EACH ALUMINA LIMITED SHARE
    * ALUMINA LIMITED SHAREHOLDERS WOULD OWN 31.25 PERCENT, AND
ALCOA
SHAREHOLDERS WOULD OWN 68.75 PERCENT OF COMBINED COMPANY
    * AGREED RATIO IMPLIES A VALUE OF A$1.15 PER ALUMINA LIMITED
SHARE
AND AN EQUITY VALUE OF APPROXIMATELY $2.2 BILLION FOR ALUMINA
LIMITED
    * ALCOA-TWO NEW MUTUALLY AGREED UPON AUSTRALIAN DIRECTORS
FROM
ALUMINA LIMITED'S BOARD WOULD BE APPOINTED TO ALCOA'S BOARD OF
DIRECTORS UPON CLOSING
    * IN ORDER TO ALLOW TRADING OF ALCOA CDIS, ALCOA WILL APPLY
TO
ESTABLISH A SECONDARY LISTING ON AUSTRALIAN SECURITIES EXCHANGE
    * ALCOA-UNDER TERMS AND AT ALUMINA'S REQUEST, AGREED TO
PROVIDE
SHORT-TERM LIQUIDITY SUPPORT TO ALUMINA TO FUND EQUITY CALLS
MADE BY AWAC JOINT VENTURE

Source text for Eikon:  ID:nBw9LmV7da 
Further company coverage:  AA.N 

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