Related News
Alcoa Sells Stake And Takes US$120m Levy
By Hwee Ann Tan |
February 13, 2009, Friday
|
Print Edition
Print Edition
ALCOA Inc, the largest United States aluminum producer, agreed to sell its interest in Rio Tinto Group to Aluminum Corp of China and take a US$120-million charge in the first quarter.
China's largest producer of aluminum, also known as Chinalco, will pay US$1 billion to redeem notes issued to Alcoa last year, New York-based Alcoa said in a statement yesterday. Alcoa said a year ago it would contribute as much as US$1.2 billion to its investment.
Alcoa and Chinalco in February last year acquired 7.2 billion pounds (US$10.2 billion) of shares of London-based Rio. Alcoa and Chinalco acquired the shares via a so-called special purpose vehicle, Shining Prospect Pte, at 6,000 pence a share. The stock was 68 percent lower at 1,944 pence at 11:10am in London yesterday.
China's largest producer of aluminum, also known as Chinalco, will pay US$1 billion to redeem notes issued to Alcoa last year, New York-based Alcoa said in a statement yesterday. Alcoa said a year ago it would contribute as much as US$1.2 billion to its investment.
Alcoa and Chinalco in February last year acquired 7.2 billion pounds (US$10.2 billion) of shares of London-based Rio. Alcoa and Chinalco acquired the shares via a so-called special purpose vehicle, Shining Prospect Pte, at 6,000 pence a share. The stock was 68 percent lower at 1,944 pence at 11:10am in London yesterday.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
