Alcoa amends Alumina acquisition deal; CITIC to get ~1.5% stake as non-voting preferred

Alcoa Corp

Amendment allows CITIC affiliate (~18.9% holder of Alumina) to receive non-voting convertible preferred stock instead of CDIs to comply with Bank Holding Company Act.
The non-voting preferred shares represent about 1.5% of pro forma Alcoa common stock; economic rights equivalent to CDIs.
Alcoa and Allan Gray mutually terminated Conditional Share Sale Agreement; Allan Gray reaffirms support for the scheme.
Transaction remains on track to close in Q3 2024, subject to shareholder and regulatory approvals (FIRB, Brazil antitrust).

item 1.01 item 1.02 item 3.02 item 8.01 item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.