# Chalco and Rio Tinto acquire controlling stake in CBA

Aluminum Corporation of China (Chalco) and Rio Tinto jointly acquired a 68.596% controlling stake in Companhia Brasileira de Alumínio (CBA) from Votorantim for BRL 4.69 billion ($904 million). Chalco holds 67% and Rio Tinto 33% in a new joint venture.

- Type: Acquisition
- Announced: 2026-02-25
- Where: Brazil
- Value: $904.0M (4.69B BRL)
- Status: announced
- Products: aluminium
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Rio Tinto](https://endata.com/companies/4215.md) (acquirer)
- [Aluminum Corporation of China](https://endata.com/companies/20411.md) (acquirer)
- [Votorantim S.A.](https://endata.com/companies/22419.md) (partner)
- [Chinalco](https://endata.com/companies/29047.md) (acquirer)
- [Matalco](https://endata.com/companies/29685.md) (target)
- [Companhia Brasileira de Alumínio](https://endata.com/companies/32162.md) (target)
- [Giampaolo Group](https://endata.com/companies/36740.md) (partner)
- [Chalco](https://endata.com/companies/81896.md) (acquirer)
- [Companhia Brasileira de Alumínio (CBA)](https://endata.com/companies/90834.md) (target)

## Sources

- [thedealmatter.com](https://thedealmatter.com/deals/mayer-brown-tc-linklaters-machado-meyer-kwm-cleary-stocche-forbes-act-on-chalco-rio-tintos-acquisition-in-cba/), 2026-02-25: "The BRL 4.69 billion transaction represents the largest aluminum-sector deal in Brazil in the past 15 years and marks Chalco’s entry into the Latin American market"
- [news.metal.com](https://news.metal.com/en/newscontent/103794043-NALCO-Launches-High-Performance-IA91-Aluminum-Alloy-for-Advanced-Casting-Applications), 2026-03-06: "Rio Tinto acquired a 50% equity stake in the Matalco business from the Giampaolo Group for a significant $700 million."
- [aluminum.yieh.com](https://aluminum.yieh.com/en/rio-tinto-chinalco-win-final-approval-for-cba-stake/159573), 2026-03-12: "Brazil's antitrust watchdog, CADE, has unconditionally approved the joint acquisition of a controlling stake in Brazilian aluminum producer Companhia Brasileira de Alumínio (CBA) by Rio Tinto and Chinalco."
- [cksonline.com.br](https://cksonline.com.br/cade-aprova-venda-do-controle-da-companhia-brasileira-de-aluminio-para-chinalco-e-rio-tinto/), 2026-03-13: "A aquisição garante à Chinalco e à Rio Tinto o controle da maior produtora de alumínio da América Latina e um vasto portfólio de ativos."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.