Rio Tinto PLC (RIO.LN) said Wednesday that it has received a binding offer from investment company Liberty House to acquire its aluminum smelter in France for $500 million.
The Anglo-American multinational said it will launch a consultation process with its employees and other stakeholders in response to the binding offer. It expects the sale to complete in the second quarter of the year, it said.
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The company said the offer includes plans for modernization of the site.
Liberty House acquired another of Rio Tinto's smelters in Scotland in December 2016.
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(END) Dow Jones Newswires
January 10, 2018 08:36 ET (13:36 GMT)