News
Brazil - CBA moves to exit Alunorte with stake sale
Issued at 2024-11-25
Tweet
Deal with the Glencore subsidiary includes a 3.03% minority share for R$236.8 million
Companhia Brasileira de Alumínio (CBA) has entered into an agreement with a subsidiary of Glencore, the Swiss mining giant, to divest its stake in Alunorte, one of the world's largest alumina (aluminum oxide) refineries. Located in Barcarena, Pará, Alunorte boasts an annual production capacity of 6 million tonnes and has been controlled by Norsk Hydro since its founding in 1995.
The deal involves the sale of CBA's 3.03% minority stake for R$236.8 million, payable in cash upon completion.
The transaction has received approval from CBA's board of directors but is still subject to final clearance at an extraordinary Alunorte shareholders' meeting.
In a notice of material fact, CBA explained that the divestment aligns with its strategic focus on its core aluminum business. The company, which is self-sufficient in alumina production, highlighted that vertical integration remains one of its key competitive advantages.
Upon finalization of the sale, CBA will forgo its entitlement to the proportional alumina production from Alunorte and will no longer be able to sell the surplus alumina related to its offtake agreement.
Source: Valor
Tweet
Related News
- Kuttner do Brasil and Kuttner No Bake Solutions bring the most advanced foundry equipment technologies to Metalurgia2025
- Metallurgy concentrates suppliers of inputs for diversified applications in the industry
- UK - Vesuvius Plc - Acquisition of the Molten Metal Systems business from Morgan Advanced Materials Plc
- Metallurgy Congress will have Technical Program focused on Process Improvement and use of AI
- Brazil launches WTO case over Trump’s tariffs
- Metallurgy brings together Innovations in Industrial Heating and Induction Systems
- Aluminium: The Lightweight Powerhouse Driving Formula One Innovation
- US tariffs to have 'minimal' impact on Brazilian steel
- See all News
