Rio Tinto completes sale of Alcan Cable’s North American business
Rio Tinto has completed the sale of the North American portion of its Alcan
Cable business to General Cable Corporation for $151 million in cash, subject to
customary adjustments primarily related to working capital levels at closing.
The sale of the North American business as well as an Alcan Cable operation in
Tianjin, China, was agreed on 21 May 2012. The sale of the Tianjin operation is
expected to close later in the year, once regulatory approvals are received, for
$34 million in cash, also subject to customary closing adjustments.|
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and New York Stock Exchange listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.
Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore. Activities span the world and are strongly represented in Australia and North America with significant businesses in Asia, Europe, Africa and South America.