News: AWC Alcoa Says Co Enters Into Binding Agreement To Acquire Alumina Limited

March 11 (Reuters) - Alcoa Corp AA.N :

• ALCOA ENTERS INTO BINDING AGREEMENT TO ACQUIRE ALUMINA LIMITED
• ALUMINA LIMITED SHAREHOLDERS WOULD RECEIVE CONSIDERATION OF 0.02854 ALCOA SHARES FOR EACH ALUMINA LIMITED SHARE
• ALUMINA LIMITED SHAREHOLDERS WOULD OWN 31.25 PERCENT, AND ALCOA SHAREHOLDERS WOULD OWN 68.75 PERCENT OF COMBINED COMPANY
• AGREED RATIO IMPLIES A VALUE OF A$1.15 PER ALUMINA LIMITED SHARE AND AN EQUITY VALUE OF APPROXIMATELY $2.2 BILLION FOR ALUMINA LIMITED
• ALCOA-TWO NEW MUTUALLY AGREED UPON AUSTRALIAN DIRECTORS FROM ALUMINA LIMITED'S BOARD WOULD BE APPOINTED TO ALCOA'S BOARD OF DIRECTORS UPON CLOSING
• IN ORDER TO ALLOW TRADING OF ALCOA CDIS, ALCOA WILL APPLY TO ESTABLISH A SECONDARY LISTING ON AUSTRALIAN SECURITIES EXCHANGE
• ALCOA-UNDER TERMS AND AT ALUMINA'S REQUEST, AGREED TO PROVIDE SHORT-TERM LIQUIDITY SUPPORT TO ALUMINA TO FUND EQUITY CALLS MADE BY AWAC JOINT VENTURE