Veolia’s $250 Million Acquisition of Gum Springs


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.;

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Author: Ambrogio Visconti