Chinalco's $14 billion stake acquisition in Rio Tinto
Advisers China International Capital Corp, Nomura
Legal advisers Cleary Gottlieb Steen Hamilton, Clifford Chance, Linklaters, Mallesons Stephen Jaques, Simpson Thacher Bartlett, Wachtell Lipton Rosen Katz
On February 1, Aluminum Corporation of China Chinalco and US aluminium producer Alcoa bought 12% of the outstanding shares in UK-listed Rio Tinto for $14 billion via Singapore-based holding company Shining Prospect. Chinalco owns around 91.5% of Shining and Alcoa the balance. The move was intended to give state-owned enterprise Chinalco a negotiating position if BHP Billiton's hostile bid for Rio Tinto went through. Even those who suggest that Lehman Brothers the deal was completed before the takeover...