South32 Shareholders Vote on $8 Billion Asset Sale to Alcoa

Key Facts

1South32 shareholders are voting today on the $8 billion sale of its aluminium and alumina assets to Alcoa.

South32 shareholders are voting today on the $8 billion sale of the company's aluminium and alumina assets to Alcoa. Proactive Investors reported that the transaction includes interests in Worsley Alumina and Hillside Aluminium, marking a strategic pivot for South32 away from its BHP spin-off origins toward high-growth base metals such as copper, zinc, and manganese.

AA (Alcoa Corporation) closed at $41.49 on October 13, 2026, remaining well above the $31 threshold deemed fair by independent experts for the transaction. The divestment is expected to release approximately $1.1 billion in environmental and rehabilitation provisions from South32's balance sheet, with the company planning to distribute 50% of the Alcoa shares received as consideration to its shareholders.