Alcoa Corporation has successfully completed the acquisition of Alumina Limited in an all-stock transaction valued at approximately $2.8 billion. Under the deal, Alumina shareholders received 0.02854 Alcoa shares for each Alumina share, resulting in the issuance of 78.8 million common shares and 4.0 million non-voting preferred shares to CITIC Group affiliate.The transaction gives Alcoa full ownership of the Alcoa World Alumina and Chemicals (AWAC) joint venture, which operates bauxite mines and alumina refineries across Australia, Brazil, Spain, Saudi Arabia and Guinea. The deal includes the assumption of Alumina Limited's $363 million debt and is expected to provide greater financial and operational flexibility.The acquisition is projected to strengthen Alcoa's position as one of the world's largest bauxite and alumina producers. The company recognized a $100 million deferred tax asset from Alumina Limited's Australian net operating loss carryforwards. The transaction was completed through a court-approved scheme of arrangement, with Alumina Limited becoming a wholly-owned subsidiary of Alcoa.

Alcoa Corporation has successfully completed the acquisition of Alumina Limited in an all-stock transaction valued at approximately $2.8 billion. Under the deal, Alumina shareholders received 0.02854 Alcoa shares for each Alumina share, resulting in the issuance of 78.8 million common shares and 4.0 million non-voting preferred shares to CITIC Group affiliate.The transaction gives Alcoa full ownership of the Alcoa World Alumina and Chemicals (AWAC) joint venture, which operates bauxite mines and alumina refineries across Australia, Brazil, Spain, Saudi Arabia and Guinea. The deal includes the assumption of Alumina Limited's $363 million debt and is expected to provide greater financial and operational flexibility.The acquisition is projected to strengthen Alcoa's position as one of the world's largest bauxite and alumina producers. The company recognized a $100 million deferred tax asset from Alumina Limited's Australian net operating loss carryforwards. The transaction was completed through a court-approved scheme of arrangement, with Alumina Limited becoming a wholly-owned subsidiary of Alcoa.