Chinalco, Rio Tinto to Buy Controlling Stake in Companhia Brasileira De Aluminio
By Rhiannon Hoyle
Aluminum Corp. of China and Rio Tinto agreed to buy a majority stake in Companhia Brasileira de Aluminio from Brazil's Votorantim for roughly 4.69 billion reais, equivalent to US$903.5 million.
The state-owned Chinese metals giant, also known as Chinalco, and Anglo-Australian miner Rio Tinto will acquire Votorantim's nearly 69% stake via a joint venture to be owned 67% by Chinalco, the two acquirers said in separate statements Friday.
Rio Tinto said the acquisition will leverage the companies' "deep and complementary expertise across the aluminium value chain to unlock the next phase of growth at CBA."
The deal represents a premium of 21% to Brasileira de Aluminio's 20-day weighted average trading price, Rio Tinto said. Once the deal has been completed, the joint venture will launch a mandatory tender offer for the remaining shares in CBA not held by Votorantim, it said.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
January 29, 2026 19:52 ET (00:52 GMT)
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