Rio Tinto announced it has completed the sale of its Dunkerque aluminium smelter in northern France, Europe’s biggest aluminium producer, to Liberty House for $500 million.
In January, Rio Tinto had accepted a purchase offer from UK industrialist Sanjeev Gupta for its Dunkerque aluminium smelter.
“Liberty House, which is part of the GFG Alliance (Gupta Family Group), has committed to continuing operations at the smelter and has announced plans for the development of additional activity around the site,” according to Rio Tinto press release.
Rio Tinto said the proceeds will be returned to shareholders, with the precise timing and form to be announced with Rio Tinto’s 2018 full year results.
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