# Alcoa to acquire most of South32's aluminium portfolio for up to $8 billion

Alcoa's proposed acquisition of most of South32's aluminium portfolio, with an implied enterprise value of up to US$5.6 billion ($8 billion), remains on track for completion in the first half of 2027. South32 shareholders approved the transaction on 15 October 2026, and regulatory clearances are pending.

- Type: Acquisition
- Announced: 2026-11-07
- Value: $5.60B
- Status: announced
- Products: aluminium, alumina
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Alcoa Corporation](https://endata.com/companies/7297.md) (acquirer)
- [South32](https://endata.com/companies/33959.md) (target)

## Sources

- [mining.com.au](https://mining.com.au/alcoa-advances-up-to-8-billion-south32-aluminium-deal/), 2026-11-07: "Alcoa says its proposed acquisition of most of South32’s aluminium portfolio remains on track for completion in the first half of 2027"

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