Alumina agrees to Alcoa split

Company News

by Lee Brooks


Alumina Limited (ASX:AWC) says it has agreed to make changes to its Alcoa World Alumina and Chemical joint venture and to end litigation related to Alcoa’s pending separation.

The changes will serve to allow Alcoa’s separation but maintain the mutually beneficial partnership between the two entities.

Opportunities to partner with other companies in developmental projects will also increase and the agreement also allows for rights to be triggered in the event of a change of control in Alumina.

Both parties have agreed to terminate litigation in Delaware related to Alcoa’s split into two independent publically traded companies.

Alumina reported a net profit of $10.5 million for the 2016 financial year.
 

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