Jones Day is advising Alcoa Corporation (NYSE: AA).
Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, has agreed to sell its Gum Springs, Arkansas waste treatment facility, to Veolia ES Technical Solutions (VTS) in a transaction expected to close in the first quarter of 2020.
According to the terms of the agreement between the parties, Alcoa will receive $200 million in cash at closing for the sale of Elemental Environmental Solutions (EES), a wholly-owned subsidiary of Alcoa Corporation that owns the 1,300-acre hazardous waste treatment business in Gum Springs. An additional $50 million will be paid to Alcoa if certain post-closing conditions are satisfied. The sale is subject to regulatory approval and customary closing conditions.
The Jones Day team was led by William Axtman (Picture).
Involved fees earner: William Axtman – Jones Day;
Law Firms: Jones Day;
Clients: Alcoa Corp.;