Swiss private equity firm Parter Capital Group AG has completed the purchase of Alcoa's Avil?(C)s and La Coru??a aluminium plants in Spain, the producer said on Wednesday July 31.
The acquisition is effective immediately and includes the casthouses at both plants and the paste plant at La Coru??a, which are currently in operation, as well as the curtailed smelters at both plants. Both companies signed a conditional share purchase agreement at the beginning of July. Alcoa announced in January that it would keep the two smelters in restart condition until June 30, 2019, in the event that third parties would have an interest in acquiring the facilities. The deadline was extended to July 31 following the original purchase agreement. "Parter Capital Group's acquisition of the Avil?(C)s and...