Rio Tinto turns to Chinalco (Dealscape

Rio Tinto plc, the world's No. 3 mining company, is in talks to sell securities and stakes in certain operations to its biggest shareholder, Aluminum Corp. of China Ltd., to help cut almost $40 billion of debt.

Rio Tinto of Melbourne, Australia, and London has turned to Aluminum Corp., known as Chinalco, after plans to sell about $15 billion of assets faltered amidst a sharp downturn in mining sector fortunes. Rio Tinto had originally hoped to sell about $10 billion of operations by the end of 2008 but has so far raised just $4.6 billion.

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56 in depth transaction records for metals industry auctions
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NOT A SUBSCRIBER? Rio Tinto turns to Chinalco Posted on February 2, 2009 3:45 PM Rio Tinto plc, the world's No. 3 mining company, is in talks to sell securities and stakes in certain operations to its biggest shareholder, Aluminum Corp. of China Ltd., to help cut almost $40 billion of debt. Rio Tinto of Melbourne, Australia, and London has turned to Aluminum Corp., known as Chinalco, after plans to sell about $15 billion of assets faltered amidst a sharp downturn in mining sector fortunes. Rio Tinto had originally hoped to sell about $10 billion of operations by the end of 2008 but has so far raised just $4.6 billion. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 220 articles involving Rio Tinto plc 149 articles involving Aluminum Corp. 102 company records related to Australia 56 in depth transaction records for metals industry auctions 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Skadden Arps Idearc Inc. Deutsche Bank Amusement parks Deb Shops Windstream Corp. Concho Resources Hanna Andersson Tween Brands Edward Bastian		EXISTING USERS Username Password Forget your password? Missing a product?

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