Rio Tinto receives binding offer aluminium assets

RNS Number : 8904F

Rio Tinto PLC

26 February 2018

 

Rio Tinto receives a binding offer for aluminium assets

26 February 2018

Rio Tinto has received a binding offer from Hydro of $345 million, subject to final adjustments, to acquire Rio Tinto's ISAL smelter in Iceland, its 53.3 per cent share in the Aluchemie anode plant in the Netherlands and its 50 per cent share in the Aluminium fluoride plant in Sweden.

In accordance with applicable laws, Rio Tinto will launch a consultation process with employees, relevant European works councils and other stakeholders. Subject to satisfactory completion of these consultations and certain other conditions, Rio Tinto expects to conclude the sale in the second quarter of 2018.

Rio Tinto Aluminium chief executive Alf Barrios said "The binding offer for the sale of these assets provides further evidence of Rio Tinto's commitment to strengthen our business and deliver value by streamlining our portfolio.

"Hydro has a solid track record in the aluminium industry and is a partner to Rio Tinto in other ventures. ISAL, Aluchemie and Alufluor are a natural fit with Hydro's portfolio and this transaction should secure the long term future for the sites and continued economic benefit for the wider communities". 

Contacts

[e-mail] 

riotinto.com  

  Follow @RioTinto on Twitter

Media Relations, United Kingdom Illtud Harri T [phone] M [phone] David Outhwaite T [phone] M [phone] David Luff T [phone] M [phone] Investor Relations, United Kingdom John Smelt T [phone] M [phone] David Ovington T [phone] M [phone] Nick Parkinson T [phone] M [phone]	Media Relations, Australia Jonathan Rose T [phone] M [phone] Investor Relations, Australia Natalie Worley T [phone] M [phone] Rachel Storrs T [phone] M [phone]
Rio Tinto plc 6 St James's Square London SW1Y 4AD United Kingdom T [phone] Registered in England No. 719885	Rio Tinto Limited Level 7, 360 Collins Street Melbourne 3000 Australia T [phone] Registered in Australia ABN 96 004 458 404

 

END

 

 

STRPGUQUPUPRURQ