South32 Ltd ASX:S32:
SOUTH32 LTD-US$5.6B ALUMINIUM VALUE CHAIN SALE AND CEO TRANSITION
GRAHAM KERR STEPS DOWN AS CEO, TO CONTINUE AS STRATEGIC ADVISOR
US$5.6B ALUMINIUM VALUE CHAIN SALE
TO RETURN $500 MILLION TO SHAREHOLDERS AS FULLY-FRANKED SPECIAL DIVIDEND
DEAL INCLUDES $3.1 BILLION CASH, $1 BILLION ALCOA SHARES, $750 MILLION DEBT, UP TO $750 MILLION CONTINGENT CASH
ALCOA TO BUY INTERESTS IN WORSELY ALUMINA, HILLSIDE, MRN, BRAZIL ALUMINA, BRAZIL ALUMINIUM
ALCOA TO ASSUME $1.2 BILLION IN REHABILITATION PROVISIONS
APPOINTS MATTHEW DALEY AS CEO AND MANAGING DIRECTOR
MOZAL ALUMINIUM EXCLUDED FROM DEAL, DIVESTMENT UNDER CONSIDERATION
US$5.6B ALUMINIUM VALUE CHAIN SALE AND CEO TRANSITION
APPOINTS MATTHEW DALEY AS CEO AND MANAGING DIRECTOR