RIO TINTO SOLD 12% STAKE TO CHINALCO, ALCOA
AsiaInfo Services, February, 2008
AsiaInfo Services 02-06-2008 Rio Tinto Sold 12% Stake to Chinalco, Alcoa BEIJING, Feb 06, 2008 (SinoCast via COMTEX) -- Aluminum Corporation of China (Chinalco) and US-based Alcoa Inc. (NYSE: AA) have recently bought a 12% stake in Rio Tinto Company, an Austrian iron and steel mogul headquartered in the UK, for nearly USD 14.05 billion. The Chinese aluminum producer completed the world's biggest mining acquisition through its wholly owned affiliate of Singapore, with help from Lehman Brothers Inc.
and China International Capital Co., Ltd. as financial consultants. Meanwhile, China Development Bank managed the fundraising for this deal. "The move signals our optimism about the development prospect for the mining industry and Rio Tinto's entire value," said a top...
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