Arconic Monetizes Majority of Stake in Alcoa Corporation

February 15, 2017

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NEW YORK–(BUSINESS WIRE)–Arconic Inc. (NYSE:ARNC) today announced that it has monetized more than 60 percent of the 36,311,767 shares it retained in Alcoa Corporation. The sale of 23,353,000 Alcoa Corporation shares will result in approximately $890 million in proceeds. The proceeds bolster the Company’s cash balance, which provides financial flexibility to pay down debt and/or pursue share repurchases, based on a relative-return assessment. The timing and structure of the transaction conside

Category: General