Key Developments: Alcoa Inc (AA)

AA on New York Consolidated

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19 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Alcoa to acquire TITAL to expand global growth platform for Titanium Aerospace Components
Monday, 15 Dec 2014 04:30am EST 

Alcoa Inc:Plans to further expand its global aerospace business through a definitive agreement to acquire privately held TITAL.Acquisition will strengthen Alcoa's global position to capture increasing demand for advanced jet engine components made of titanium.Financial details of the transaction were not disclosed.  Full Article

Alcoa approves dividend on mandatory convertible preferred stock
Wednesday, 3 Dec 2014 12:04pm EST 

Alcoa Inc:Declares dividend of $7.53993 per share on the outstanding 5.375 pct Class B Mandatory Convertible Preferred Stock Series 1.Payable on Jan. 1, 2015.To shareholders of record of the mandatory convertible preferred stock at the close of business on Dec. 15.  Full Article

Alcoa completes sales of two upstream assets
Monday, 1 Dec 2014 04:03pm EST 

Alcoa Inc:Completes two previously-announced sales within its Global Primary Products portfolio.The divestitures, one in the United States and the second in Jamaica, are aligned with Alcoa's strategy to lower its cost base and create globally competitive business.Alcoa World Alumina and Chemicals (AWAC) finalized the sale of its 55 pct ownership stake in Jamalco bauxite mining and alumina refinery joint venture to Noble Group Ltd.Company completed the sale, announced on Oct.15, after receiving all regulatory approvals.Says Jamalco is located in Clarendon, Jamaica.Alcoa also finalized the sale of its 50.3 percent interest in the Mt. Holly aluminum smelter in Goose Creek, South Carolina, to Century Aluminum Company.The smelter has the capacity to produce 229,000 metric tons of aluminum annually.Alcoa announced its plan to sell its stake to Century on Oct. 23.  Full Article

Alumina Limited and Alcoa Inc announces completion of sale of AWAC’s stake in Jamalco Refinery
Sunday, 30 Nov 2014 06:15pm EST 

Alumina Limited and Alcoa Inc:Says that Alcoa World Alumina LLC(AWA) has completed the sale of its 55 per cent interest in the Jamalco alumina refinery in Jamaica, to Noble Group Limited (Noble) for a cash consideration of $140 million.Says AWA will provide compensated management services to Jamalco for a period of three years from closing.AWAC (which includes AWA) is a joint venture between Alumina Limited and Alcoa Inc.AWAC is 60 pct. owned and managed by Alcoa Inc and 40 pct. owned by Alumina Limited.  Full Article

Alcoa Inc acquires Firth Rixson, Grows Global Aerospace Portfolio
Thursday, 20 Nov 2014 04:00am EST 

Alcoa Inc:Has completed acquisition of Firth Rixson.Closed transaction, which was announced on June 26, 2014, after receiving all of required global regulatory approvals and arranging financing for deal.  Full Article

Alcoa to sell ownership stake in Mt. Holly Smelter to Century Aluminum
Thursday, 23 Oct 2014 04:03pm EDT 

Alcoa Inc:Reached an agreement to sell its ownership stake in the Mt. Holly aluminum smelter in Goose Creek, South Carolina, to Century Aluminum company for $67.5 million in cash, plus an additional potential earn-out.Mt. Holly is owned 50.3 percent by Alcoa and 49.7 percent by Century.  Full Article

Alcoa to sell stake in Jamalco bauxite mining to Noble
Wednesday, 15 Oct 2014 09:00am EDT 

Alcoa Inc:Alcoa and Noble Group Ltd announces signing of definitive agreement that will result in Alcoa World Alumina and Chemicals (AWAC) selling 100 pct of its ownership stake in the Jamalco bauxite mining and alumina refining joint venture to Noble for $140 mln.AWAC will continue as managing operator for three years under compensated service agreement and employees will remain employed by Jamalco.Jamalco joint venture is 55 pct owned by Alcoa Minerals of Jamaica (AMJ) and 45 pct owned by Clarendon Alumina Production Ltd. (CAP).AMJ is part of the AWAC joint venture, owned 60 pct by Alcoa and 40 pct by Alumina Limited.CAP is company wholly owned by the Government of Jamaica.  Full Article

Alcoa Inc Opens Aluminum-Lithium Aerospace Plant in Indiana
Thursday, 2 Oct 2014 06:00am EDT 

Alcoa Inc:Announces opening of aluminum-lithium plant in Lafayette, Indiana where it produces advanced, third-generation aluminum-lithium alloys for the aerospace industry.Aircraft manufacturers are increasingly turning to lighter and stronger aluminum-lithium alloys, which are less expensive than titanium and composites and enable better fuel efficiency and lower maintenance costs.Alcoa is produces advanced, third-generation aluminum-lithium alloys for the aerospace industry, including for the Airbus A380 and A350.  Full Article

Alcoa board approves quarterly dividends
Wednesday, 1 Oct 2014 10:11am EDT 

Alcoa Inc:Declares quarterly common stock dividend of 3 cents per share.Payable on Nov. 25.Says to shareholders of record at close of business on Nov. 7.Says quarterly dividend of 93.75 cents per share on Alcoa's $3.75 cumulative preferred stock.Payable on Jan. 1, 2015.Says to shareholders of record at close of business on Dec. 12.  Full Article

Alcoa Inc announces pricing of public offering of mandatory convertible preferred stock
Wednesday, 17 Sep 2014 06:58pm EDT 

Alcoa Inc:Says pricing of its public offering of 25,000,000 of its depositary shares at $50 per depositary share.Each depositary share represents a 1/10th interest in a share of Alcoa’s 5.375 pct Class B Mandatory Convertible Preferred Stock, Series 1, par value $1.00 per share.Each share of mandatory convertible preferred stock has a liquidation preference of $500 (equivalent to $50 per depositary share).The underwriters of the offering have an option to purchase up to an additional 3,750,000 depositary shares to cover over-allotments.The offering is expected to close on Sep. 22.Net proceeds from this offering, after deducting underwriting discount and commissions and estimated offering expenses, are expected to be about $1.2 bln.If the underwriters exercise their over-allotment option in full, net proceeds are expected to be about $1.4 bln.Intends to use the net proceeds of the offering, if completed, as partial consideration to finance the previously announced proposed acquisition of the Firth Rixson business and to pay related fees and expenses.Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are acting as joint book-running managers of the offering.Citigroup Global Markets Inc., Goldman, Sachs & Co., and J.P. Morgan Securities LLC are acting as bookrunning managers for the offering.  Full Article

EU mergers and takeovers (Oct 16)

BRUSSELS, Oct 16 - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

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