Rio Tinto Ltd
(ASX:RIO) has completed the sale of a 61 per cent in Alcan Engineered Products to a number of investment funds.
The company announced that Apollo Global Management LLC was now the majority shareholder in a new holding company for Alcan, with a 51 per cent stake, with Fonds Strategique d’Investissement holding 10 per cent and Rio the remaining 39 per cent.
Rio Tinto says the terms of transaction are confidential.
For the year ended 30 June 2010 Rio Tinto reported a net profit $7.4 billion.
