Alcoa today announced that Alcoa of Australia has agreed to sell its stake in DBP, the owner and operator of the Dampier to Bunbury Natural Gas Pipeline (DBNGP), to DUET Group (DUET) for AU$205 million (~US$154 million). DBP is currently owned 20 percent by Alcoa of Australia and 80 percent by DUET (in aggregate).
As part of the transaction Alcoa of Australia will maintain its current access to approximately 30 percent of the DBNGP transmission capacity for gas supply to its three alumina refineries in Western Australia.
The sale is expected to close in early April. The Company expects to recognize a gain in connection with the sale of between $10 million and $15 million, after-tax and non-controlling interest, or $0.01 per share. Alcoa of Australia expects the net cash impact of the transaction, after estimated fees and taxes, will be approximately US$115 million.
Key data points: The growth forecast = 5.0% annually for the next 7 years. Scroll below to get more insights. This market report covers trends, opportunities and forecasts in tight gas market to 2031 by type (processed tight gas and unprocessed tight gas), application (residential, commercial, industrial production, power generation, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Download free sample pagesAlcoa of Australia is owned 60 percent by Alcoa Inc., and 40 percent by Alumina Limited.
