Alcoa Corp — Form 8-K

South32 Limited agreed to sell its Australian, Brazilian, and South African bauxite/alumina/aluminium operations to Alcoa Corporation for aggregate consideration of approximately $3.1 billion in cash ($3.1B allocated: Australian $1.107B, South African $836M, Brazilian $1.157B) plus Alcoa shares as consideration. The deal includes contingent consideration tied to alumina and aluminium production. Completion is conditional on regulatory approvals, shareholder votes, and financing. Seller (South32) will receive ~57% of consideration shares for Australian/South African assets; Brazilian assets receive no equity consideration, only cash.