Rio Tinto to buy Alcan for $38bn

July 12: Canada-based aluminium-to-packaging giant Alcan is to be bought for $38.1 billion by leading mining group Rio Tinto, subject to approvals.
Alcan’s packaging division will be included in the sale but will be sold by the new company – as may other downstream activities. This will enable Rio Tinto to refinance its debt and strengthen its position.

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