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Financial News

Monday July 6, 08:35 AM

 

 

Rio Tinto has announced the $1.2 bln sale of Alcan's American food packaging arm to US firm Bemis

By Greg Wood

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Mining giant Rio Tinto has announced the $1.2 bln sale of Alcan's American food packaging arm to US firm Bemis as it offloads assets to pay off its big debts. The Anglo-American miner said it would receive cash and up to $200 mln in Bemis shares under the deal for Alcan Food Americas, which is still subject to regulatory approval. Mining giant Rio Tinto has announced the $1.2 bln sale of Alcan's American food packaging arm to US firm Bemis as it offloads assets to pay off its big debts. The Anglo-American miner said it would receive cash and up to $200 mln in Bemis shares under the deal for Alcan Food Americas, which is still subject to regulatory approval.


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