Earnings call: Alcoa plans full acquisition of Alumina Limited
Alcoa Corporation (NYSE: NYSE:AA) has announced its intentions to acquire Alumina (OTC:AWCMY) Limited, aiming for full ownership of the Alcoa World Alumina and Chemicals joint venture. The proposed all-stock deal, valued at approximately $2.2 billion, would see Alumina Limited shareholders owning 31.25% of the combined entity, with Alcoa shareholders holding the remaining 68.75%. The transaction is expected to close in Q3 2024, subject to shareholder and regulatory approvals.