Rio Tinto and Aluminum Corporation of China Limited (Chalco) entered a definitive agreement to acquire Votorantim's 68.596% controlling shareholding in Companhia Brasileira de Alumínio (CBA) for approximately $902.6 million. The acquisition will be through a joint venture owned 33% by Rio Tinto and 67% by Chalco.
Rio Tinto and Aluminum Corporation of China Limited (Chalco) have entered into a definitive agreement to acquire Votorantim's 68.596% controlling shareholding in Companhia Brasileira de Alumínio (CBA) for approximately $902.6 million, through a joint venture owned 33% by Rio Tinto and 67% by Chalco.
Rio Tinto and Aluminum Corporation of China Limited (Chalco) have entered into a definitive agreement to acquire Votorantim's 68.596% controlling shareholding in Companhia Brasileira de Alumínio (CBA) through a joint venture owned 33% by Rio Tinto and 67% by Chalco, for approximately $902.6 million.
ArcelorMittal and Votorantim are merging their long steel businesses in Brazil.
ArcelorMittal Brasil and Votorantim signed a definitive agreement to combine their long steel businesses in Brazil, with Votorantim Siderurgia becoming a subsidiary of ArcelorMittal Brasil and Votorantim holding a minority stake. The combined entity will have annual crude steel capacity of 5.6 million tonnes.