Rio Tinto PLC (LSE, ASX: RIO) said it signed an agreement to sell its Alcan Packaging Food Americas division to Bemis Co Inc (NYSE: BMS) for US$1.2 billion of which US$200 million may be in the form of Bemis shares.
“The sale of the Food Americas division is the first significant step in reducing the asset portfolio acquired with Alcan,' said Chief executive Guy Elliott.
Rio Tinto already announced it plans US$3.7 billion of divestments in 2009. Those already announced are its interest in the Ningxia aluminium smelter in China for US$125 million, its potash assets and Brazilian iron ore operations for US$1.6 billion and its Jacobs Ranch coal mine in the US for US$761 million.
The divestment programme continues for other assets identified for sale, including the remainder of Alcan Packaging and Alcan Engineered Products, Rio Tinto added.www.proactiveinvestors.com.au
No comments:
Post a Comment