• Alcoa to acquire South32's bauxite, alumina, and aluminum assets for $4.1 billion
• Transaction expected to generate $900 million in synergies
• Deal anticipated to close in the first half of 2027
• Alcoa to hold a conference call on June 30, 2026

Alcoa Corporation has announced the acquisition of South32 Limited's bauxite, alumina, and aluminum assets for an upfront consideration of approximately $4.1 billion. This strategic acquisition, which includes assets in Australia, Brazil, and South Africa, is expected to generate significant synergies of approximately $900 million in net present value. The deal, expected to close in the first half of 2027, will enhance Alcoa's position as a leading pure-play upstream aluminum company, improving its scale and global competitiveness. Alcoa plans to finance the transaction with a combination of cash and newly issued common stock, representing approximately 6% of its outstanding shares post issuance. South32 shareholders may receive up to an additional $750 million contingent on future alumina and aluminum prices. Alcoa will hold a conference call on June 30, 2026, to discuss the transaction further.

Expected synergies of approximately $900 million in net present value

The acquisition is expected to be accretive to Alcoa's earnings per share and free cash flow immediately following closing.