Rio Tinto completes divestment of 61 per cent of Alcan Engineered Products
On January 4, 2011, Rio Tinto, leading international mining group headquartered in the UK, completed the divestment of 61 per cent of Alcan Engineered Products (AEP) to certain investment funds affiliated with Apollo Global Management, LLC (Apollo) and the Fonds Stratégique d'Investissement (FSI). Apollo is now the majority shareholder in AEP with a 51 per cent stake in a new holding company for AEP, with the FSI holding 10 per cent. Rio Tinto holds a 39 per cent stake and maintains its ownership of Alcan Cable.
Lenz & Staehelin advised Rio Tinto on all Swiss law aspects, Linklaters LLP being the overall lead counsel. The team was led by Andreas Rötheli (M&A) and included Marie Berney.