So since the split AWC.AX now owns 40% of Aloca and 40% of Arconic (i think)
S32 would only be interested in Alcoa, which is 38% of the combined value of them. (according to their US market cap)
So the values of AWC's Alcoa shares is about $2bn (5.2 * 0.38), that wouldnt be a problem for South32, or too much of a long term burden
Or maybe they might only be interested in certain assets, not the whole thing.
AWC Rumours, page-4
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