Rio Tinto is seeking an asset-for-equity swap with Chinalco: Reuters

Rio Tinto is seeking an asset-for-equity swap with Chinalco: Reuters

The deal with the state-owned miner, otherwise known as Aluminum Corp of China, would cut its 11 per cent stake in the leading global mining group.

Rio Tinto ponders Chinalco asset-for-equity swap that would put buybacks, acquisitions back on menu

Rio Tinto (ASX:RIO) is pondering an asset-for-equity swap with Chinalco that would see the Chinese investor’s 11% stake trimmed down and, most importantly, free up the Australian major to restart buybacks and explore new deals. Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more. Should the deal, first reported by Reuters on Wednesday, eventuate,…

Rio Tinto explores Chinalco stake reduction deal

RIO Tinto is considering an asset-for-equity arrangement with Chinalco that would reduce the Chinese investor’s 11% holding, enabling the miner to restart share buybacks and pursue strategic transactions, said Reuters citing sources. State-owned Aluminium Corporation of China would exchange part of its stake for partnerships in Rio mining assets, ending governance restrictions that have limited the Anglo-Australian company’s flexibility for more…