Chinalco, Rio Tinto to Jointly Buy 68.6% Stake in Brazil's CBA

Published: Jan 30, 2026 14:01

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[SMM Aluminum Express News] Aluminium Corporation of China (Chinalco) and Rio Tinto have agreed to acquire a controlling 68.6% stake in Brazil’s Companhia Brasileira de Alumínio (CBA) from Grupo Votorantim for R$4.69 billion (approximately US$904 million). The deal involves purchasing 446.6 million shares at R$10.50 each, representing a modest 1.4% premium over CBA’s closing price on Thursday. The stake will be held through a joint venture, with a Chinalco subsidiary owning 67% and Rio Tinto holding 33%. As required by Brazilian regulations, the buyers will launch a mandatory tender offer for the remaining shares, which could lead to CBA’s delisting from the B3 stock exchange in São Paulo.

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