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South32 shareholders to vote on $8 billion aluminum asset sale to Alcoa

Proactive +1 ·

AA
AA Alcoa Corp
$40.08 -3.40%
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  1. 1South32 shareholders vote today on a proposal to sell aluminum and alumina assets to Alcoa for $8 billion.
  2. 2This sale will result in a reversal of approximately $1.1 billion in provisions on South32's balance sheet.
  3. 3South32 plans to distribute 50% of the Alcoa shares received as consideration directly to shareholders.

So what's the key point?

South32 has decided to sell its aluminum business to Alcoa for $8 billion. The company plans to distribute half of the profits from this deal to shareholders in the form of shares.

Source Proactive +1 · View original ↗

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