Rio Tinto Receives $500 Million Offer for Smelter in France

By Carlo Martuscelli

Rio Tinto PLC (RIO.LN) said Wednesday that it has received a binding offer from investment company Liberty House to acquire its aluminum smelter in France for $500 million.

The Anglo-American multinational said it will launch a consultation process with its employees and other stakeholders in response to the binding offer. It expects the sale to complete in the second quarter of the year, it said.

The company said the offer includes plans for modernization of the site.

Liberty House acquired another of Rio Tinto's smelters in Scotland in December 2016.

Write to Carlo Martuscelli at [email protected]