Kaiser Aluminum closes Alpart alumina refinery sale to Hydro Aluminum

By Jeff Pines

Washington, July 1 - Kaiser Aluminum Corp. closed its sale of its interests in the Alpart alumina refinery in Jamaica to Hydro Aluminum a.s. for $315 million, the Houston-based company said.

Kaiser owns a 65% stake in Alpart.

Even though Rusal won the April 20 auction for the assets, its partner Hydro Aluminum Jamaica exercised its right of first refusal and said it would then resell the Alpart assets to Glencore AG for the same price as Rusal.

Kaiser filed for bankruptcy on Feb. 12, 2002. The Chapter 11 case number for the company is 02-10429.

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