King & Wood Mallesons (KWM) is proud to be supporting Alumina in relation to Alcoa’s scrip-for-scrip acquisition of Alumina.
The transaction will bring two longstanding joint-venture partners together at a pivotal time for the global mining industry. Alumina shareholders will benefit from increased exposure to aluminium, a key product for energy transition and decarbonisation. The deal terms announced this week value Alumina at about A$3.3 billion.
The KWM team is being led by Partners Will Heath & Scott Langford and Consultant Stephen Minns, with support from Partner Greg Protektor (Tax), Annamarie Rooding (Employment), Catherine Danne (Finance), Christopher Kok (Competition), Mandy Tsang (Insurance) and Intan Eow (Regulatory), along with key team members, Senior Associate Jacob Carmody and Solicitors Jessica Zuiderwijk and Jordan Osrin.
Commenting on the deal, Partner Scott Langford said:
“We are really pleased to be assisting our longstanding client, Alumina, in this proposed transaction.
“We have advised Alumina for many years, in particular on its AWAC joint venture with Alcoa, which represents one of the world’s largest bauxite and alumina production businesses. Our understanding of Alumina’s people, and its business and commercial relationships, has been of great benefit through the negotiations for this landmark transaction.”
Further commenting, Lead Partner Will Heath said:
“This is an important transaction for Alumina and Alcoa at a critical time for the mining industry generally. It underscores a theme of strategic consolidation that will continue to drive M&A in the sector. Recently, we have seen sector consolidation driven by US-Australian cross-border scrip-for-scrip transactions including Newmont’s acquisition of Newcrest, Allkem’s all-stock merger of equals with Livent Corp, and now Alcoa’s acquisition of Alumina. Our KWM team is delighted to have worked on all three transactions.”
KWM looks forward to advising the Alumina team on the implementation of the proposed transaction, which is subject to satisfaction of a range of regulatory and shareholder approvals.
