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Brazil's antitrust authority Cade approved the sale of control of Companhia Brasileira de Alumínio (CBA) to a joint venture formed by Chinalco and Rio Tinto, valuing CBA at over R$10 billion. Votorantim will receive R$4.7 billion for its 68.6% stake, and a mandatory tender offer for minority shares will follow.
“A operação, anunciada em 29 de janeiro, avalia a maior produtora de alumínio da América Latina em mais de R$ 10 bilhões, somando valor de mercado mais as dívidas.”investnews.com.br
Summarized from public sources; check the original articles before acting on it.