South32 Shareholders Back Proposed Aluminium Asset Sale to Alcoa
South32 said shareholders backed the proposed sale of its aluminium value chain assets to Alcoa, valued at up to $5.6 billion based on proxy voting results.
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Morningstar backs South32 investors on Alcoa asset sale at Oct 15 AGM
Morningstar recommends South32 shareholders vote for the miner’s proposed sale of bauxite, alumina and aluminium assets to Alcoa at its Oct 15 AGM, valuing the deal moderately above its estimate; it keeps a fair value estimate of A$4.10. The firm says Mozal Aluminum is likely to be sold as well.