Alumina Limited (ASX:AWC) has announced it has concerns regarding the demerger proposal put forward by Alcoa for the two companies joint venture AWAC.
Alumina considers that Alcoa’s demerger proposal triggers consent and ‘first offer’ rights in favour of Alumina.
Alumina has proposed amendments to the joint venture agreements in place to protect the interests of its shareholders in the context of the demerger.
Alumina has indicated it will continue to press of the resolution of these issues with Alcoa.
Alumina Limited reported a net profit of $120.86 million at 31 December 2015.
