Alcan Aluminium Ltd. has agreed to acquire a 20 percent stake in the Aluminerie Alouette consortium from Societe Generale de Financement du Quebec for about 165 million.
Aluminiere Alouette operates a 243,000-metric ton aluminum smelter in Sept-Iles, Quebec.
In addition to SGF, the equity partners in Aluminerie Alouette include Corus Group PLC, Austria Metall AG and VAW , and Kobe Steel Ltd.
The completion of the deal remains subject to the approval of the Aluminerie Alouette owners in accordance with the requirements of the consortium agreement, as well as applicable regulatory approvals, Alcan said.
The transaction is expected to be complete by the end of April.
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