Posted in | News | Aluminum / Aluminium

Alcan Looking to Divest Its Interest in Aluminium de Grèce

Dec 6 2004

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Alcan Inc. announced today that it is now in a period of exclusive discussions, based on a proposal put forth by Mytilineos Holdings S.A. of Greece, for the potential sale of Alcan's interest in Aluminium de Grèce S.A. (ADG).

"The consideration of a possible sale of Alcan's controlling interest in ADG is part of our on-going efforts to identify and develop value creating options," said Cynthia Carroll, President and Chief Executive Officer of Alcan Primary Metal Group. "We are confident that the positive outcome of these discussions would contribute to ADG's long-term sustainability," she added.

The shared objective of the parties is to finalize the terms and conditions of the proposal over the next two weeks.

Alcan engaged in discussions with various parties under the protection of confidentiality agreements as part of its efforts to identify and develop value-creating options in relation to ADG.

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