Alcoa Corporation Provides Update on Avilés and La Coruña Plants in Spain

Alcoa Corporation has signed a conditional share purchase agreement with private equity investment firm PARTER Capital Group AG, based in Schindellegi, Switzerland, to acquire the Alcoa Avilés and La Coruña aluminium plants in Spain. The plants include the casthouses at both facilities and the paste plant at La Coruña, which are currently in operation, and the two curtailed smelters. Alcoa has reached an agreement with the workers’ representatives relating to a transaction between the Company and PARTER Capital Group AG. However, a final acquisition is subject to a buyer-provided credit facility to support future operations. If the acquisition cannot be…