Brief: Noranda to sell upstream business through bankruptcy court

Noranda Aluminum Holding

13/06/2016 23:49

NEW YORK, June 13 (Reuters) - Bankrupt U.S. aluminum company 
Noranda Aluminum Holding Corp  NORNQ.PK  filed a request to sell 
its upstream business in a court-supervised process on Monday, 
the company announced.   
     
    * Motion will be heard by bnkruptcy curt on July 14. The 
deadline to submit qualified bids is Sept. 15, and an auction 
would take place on Sept. 22 if there are multiple bids.  
    * Noranda's primary aluminum business consists of a bauxite 
mine in St. Ann, Jamaica, an alumina refinery in Gramercy 
Louisiana, and a 263,000 tonne-per-year aluminum smelter in New 
Madrid, Missouri.  
    * Noranda separately announced that it reached a deal for 
Granges AB to serve as "stalking horse" bidder for Noranda's 
flat-rolled products business, valued at $302.5 million.  
  
 
 (Reporting By Luc Cohen) 
 ((luc.cohen@thomsonreuters.com; +1-646-223-8699; Reuters 
Messaging: luc.cohen.thomsonreuters@reuters.net))