Kaiser Aluminum’s $670 Million Acquisition of Alcoa Warrick


McDermott Will & Emery represented Kaiser Aluminum Corporation in the transaction.

Kaiser Aluminum Corporation (NASDAQ:KALU) entered into its definitive agreement to purchase Alcoa Warrick LLC, containing all the assets of the Warrick Rolling Mill (Warrick), from Alcoa Corporation for a purchase price of $670 million. Warrick has a leading position in the North American aluminum packaging industry and the facility includes casting, significant hot and cold rolling capacity and a range of finishing and coating lines.

The transaction provides Kaiser Aluminum entry into the North American aluminum packaging industry. Alcoa will retain ownership of the related smelting assets, power plant and land. As part of the transaction, Kaiser Aluminum will enter into a market based molten aluminum supply agreement, and a long-term ground lease that includes provisions for utility services and will have customary transition services.

This transaction is anticipated to close on or about March 31, 2021, subject to satisfaction of customary closing conditions and regulatory approvals.

The McDermott team advising Kaiser Aluminum included Thomas Sauermilch (Picture), Meir Lewittes, Raymond Jacobsen, Joel Grosberg, Diane Morgenthaler, Kristin Michaels, Daphne Trotter, Jacob Hollinger, Elias Eliopoulos, Jason Krieser, Jed Gordon, Andrew Kratenstein, Thomas Conaghan and Daniel Zucker.

Involved fees earner: Thomas Conaghan – McDermott Will & Emery; Elias Eliopoulos – McDermott Will & Emery; Edward Gordon – McDermott Will & Emery; Joel Grosberg – McDermott Will & Emery; Jacob Hollinger – McDermott Will & Emery; Raymond Jacobsen Jr. – McDermott Will & Emery; Andrew Kratenstein – McDermott Will & Emery; Jason Krieser – McDermott Will & Emery; Meir Lewittes – McDermott Will & Emery; Kristin Michaels – McDermott Will & Emery; Diane Morgenthaler – McDermott Will & Emery; Thomas Sauermilch – McDermott Will & Emery; Daphne Trotter – McDermott Will & Emery; Daniel Zucker – McDermott Will & Emery;

Law Firms: McDermott Will & Emery;

Clients: Kaiser Aluminum;

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Author: Ambrogio Visconti