Alcoa Bets on Aluminum Boom With $5.6 Billion South32 Deal

Alcoa Corp. agreed to buy South32 Ltd.’s bauxite, alumina and aluminum assets in Australia, Brazil and South Africa in a deal valued at as much as $5.6 billion, cementing its...

By James Attwood, Yvonne Yue Li · Bloomberg Markets

Alcoa Corp. agreed to buy South32 Ltd.’s bauxite, alumina and aluminum assets in Australia, Brazil and South Africa in a deal valued at as much as $5.6 billion, cementing its position among the world’s largest aluminum producers as long-term demand strengthens.