6th Feb 2008 08:51
Shining Prospect Pte Ltd06 February 2008 FOR IMMEDIATE RELEASE 6 FEBRUARY, 2008 Pre-conditional offer by BHP Billiton Chinalco and Alcoa have taken note of today's pre-conditional offer by BHPBilliton for the shares of Rio Tinto Limited and Rio Tinto plc. Together, we plan to closely monitor further developments, in particular anyresponse from the board of Rio Tinto. As shareholders in Rio Tinto plc, webelieve any offer should reflect the fundamental value of the company. Background to Chinalco Chinalco is a diversified metals and mining company based in Beijing, China.Chinalco is one of the largest diversified metals and mining companies in Chinaand is engaged in exploration, mining and downstream processing of mineralresources including bauxite, alumina, aluminum, copper, as well as othernonferrous and rare metals. Chinalco is the largest alumina and primary aluminumproducer in China and one of the leading alumina and primary aluminum producersin the world. Headquartered in Beijing and founded in 2001, Chinalco has operations across 21provinces in China with subsidiaries/offices in 9 countries across 5 continentsincluding operations and investments in Australia, Canada, Peru, Fiji andGuinea. Chinalco employs 221,000 people and for the 2007 financial year hadtotal expected sales of US$18.3 billion with profits of US$2.99 billion. Chinalco's largest asset is a 38.56% stake in Chalco which is listed on the NewYork, Hong Kong, and Shanghai stock exchanges. Chalco has a marketcapitalisation of more than US$50 billion and had revenues of over US$8 billionin 2006. More information can be found at www.chinalco.com.cn Background to Alcoa Alcoa is the world's leading producer and manager of primary aluminum,fabricated aluminum and alumina facilities, through its growing position in allmajor aspects of the industry. Alcoa serves the aerospace, automotive,packaging, building and construction, commercial transportation and industrialmarkets, bringing design, engineering, production and other capabilities ofAlcoa's businesses to customers. In addition to aluminum products and componentsincluding flat-rolled products, hard alloy extrusions, and forgings, Alcoa alsomarkets Alcoa(R) wheels, fastening systems, precision and investment castings,structures and building systems. The Company has 107,000 employees in 44countries and has been named one of the top most sustainable corporations in theworld at the World Economic Forum in Davos, Switzerland. Alcoa is listed on NYSEand has a market value of approximately US$27 billion. More information can befound at www.alcoa.com Lehman Brothers and China International Capital Corporation acted as financialadvisors to Chinalco and SPPL. Enquiries: Chinalco + 86 10 82 29 85 08 Lv Youqing Alcoa + 1 724 422 78 44 Kevin Lowery Lehman Brothers International (Europe) Limited + 44 (0)20 7102 1000 London Nick Wiles Adrian Mee Samuel Bertrand Beijing + 852 2252 6000 Zhizhong Yang Hong Kong + 852 2252 6000 Anthony Steains Colin Banfield China International Capital Corporation + 86 10 65 05 11 66 Yicheng Xu The Maitland Consultancy + 44 (0)20 7379 5151 Philip Gawith Liz Morley Financial & Corporate Relations Pty Limited (FCR) + 61 292 351 666 Anthony Tregoning Ashley Rambukwella The Abernathy McGregor Group Inc. + 1 212 371 5999 Winnie Lerner Tom Johnson This announcement is not intended to, and does not, constitute or form part ofany offer, invitation or the solicitation of an offer to purchase, otherwiseacquire, subscribe for, sell or otherwise dispose of, any securities whetherpursuant to this announcement or otherwise. The distribution of this announcement in jurisdictions outside the UnitedKingdom may be restricted by law and therefore persons into whose possessionthis announcement comes should inform themselves about, and observe suchrestrictions. Any failure to comply with the restrictions may constitute aviolation of the securities law of any such jurisdiction. Lehman Brothers International (Europe) is advising Chinalco and SPPL and no-oneelse in relation to the matters contained in this announcement and will not beresponsible to anyone other than Chinalco and SPPL for providing the protectionsafforded to clients of Lehman Brothers International (Europe) or for providingadvice in relation to the matters contained in this announcement. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BHP GroupRio Tinto