Rio Tinto receives US$340m binding offer for talc

RNS Number : 6991B
Rio Tinto PLC
23 February 2011
 



Rio Tinto receives US$340 million binding offer for talc business

 

23 February 2011

 

Rio Tinto has received a binding offer from Imerys to acquire its talc business for an enterprise value of US$340 million. A period of exclusivity with Imerys has been agreed, and Rio Tinto will respond to this binding offer following consultation with the relevant European works councils.

 

Guy Elliott, chief financial officer, Rio Tinto said, "The successful sale of our global talc business would deliver good value to our shareholders and remains aligned with our strategic focus on large scale assets. As a leading supplier of industrial minerals, Imerys is well positioned to enable the ongoing success of the talc business."

 

The talc business has about 1,000 employees at 24 locations in Europe, North America, Australia and Asia.

 

Completion of the contemplated transaction is subject to customary closing conditions, including applicable regulatory approvals.

 

Since 2008, Rio Tinto has completed more than 18 divestments in excess of US$11 billion.

 

About Rio Tinto

 

Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.

 

Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa.

 

 

About Imerys

 

The world leader in adding value to minerals, Imerys is active in 47 countries through more than 240 industrial and commercial sites. The Group achieved more than €3.3 billion in sales in 2010. Imerys develops solutions that improve its customers' product performance and manufacturing efficiency, thanks to minerals it mines and processes from reserves with rare qualities. The Group's products have a great many applications in everyday life, including construction, personal care, paper, paint, plastic, ceramics, telecommunications and beverage filtration. More comprehensive information about Imerys may be obtained from its website (www.Imerys.com).

 

For further information, please contact:

Media Relations, EMEA / Americas

Illtud Harri

Office: +44 (0) 20 7781 1152

Mobile: +44 (0)7920 503 600

Tony Shaffer

Office:  +44 (0) 20 7781 1138

Mobile: +44 (0) 7920 041 003

Christina Mills

Office:  +44 (0) 20 7781 1154

Mobile: +44 (0) 7825 275 605

Investor Relations, London

Mark Shannon

Office:  +44 (0) 20 7781 1178

Mobile: +44 (0) 7917 576597

David Ovington

Office:  +44 (0) 20 7781 2051

Mobile: +44 (0) 7920 010 978

 

Media Relations, Australia / Asia

David Luff
Office:  +61 (0) 3 9283 3620
Mobile: +61 (0) 0419 850 205

Karen Halbert

Office: +61 (0) 3 9283 3627

Mobile: +61 (0) 412 119 389

Bruce Tobin

Office: +61 (0) 3 9283 3612

Mobile: +61 (0) 419 103 454

Investor Relations, Australia

Dave Skinner

Office:  +61 (0) 3 9283 3628

Mobile: +61 (0) 408 335 309

Simon Ellinor

Office:  +61 (0) 7 3361 4365

Mobile: +61 (0) 439 102 811

Christopher Maitland

Office: +61 (0) 3 9283 3063

Mobile: +61 (0) 459 800 131

Media Relations, Canada

Bryan Tucker

Office: +1 (0) 514 848 8151

Mobile: +1 (0) 514 825 8319

Investor Relations, North America

Jason Combes

Office:  +1 (0) 801 204 2919

Mobile: +1 (0) 801 558 2645

 

Website:

www.riotinto.com

Email:

media.enquiries@riotinto.com enquiries.mediaaustralia@riotinto.com

Twitter:

Follow @riotinto on Twitter

 

High resolution photographs and media pack available at: www.riotinto.com/media 

 

 

 


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