9/102 sources · 2 publishersUpdated Oct 24, 11:43 UTC
South32 shareholders approve $5.6 bn sale of aluminium assets to Alcoa, excluding Mozal
South32 shareholders voted on 15 Oct 2026 to sell five aluminium and bauxite assets to Alcoa for up to US$5.6 bn. The transaction provides South32 with US$3.1 bn in cash, US$1 bn in new Alcoa shares and transfers about US$750 m of net debt, while excluding the Mozal smelter. Completion is targeted for the first half of 2027, subject to regulatory clearances.
Why it matters
Alcoa will add significant production capacity and expects synergies of about US$900 m that should boost its earnings per share (). South32 will receive cash and shares to fund a special dividend and further shareholder returns ().
Key facts
- 1Shareholders approved the sale at South32’s annual meeting on 15 Oct 2026. riotimesonline.com
- 2The deal is valued at up to US$5.6 bn. riotimesonline.com
- 3South32 will receive US$3.1 bn in cash. riotimesonline.com
- 4South32 will receive US$1 bn in new Alcoa shares. riotimesonline.com
- 5The transaction includes the assumption of about US$750 m of net debt by Alcoa. riotimesonline.com
- 6Additional contingent payments of up to US$750 m may be required based on price performance. riotimesonline.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.