Brazil's CBA sale gathers pace as Chinalco joins bidding, sources say

Reuters01-26 22:01

UPDATE 1-Brazil's CBA sale gathers pace as <a href="https://laohu8.com/S/02600">Chinalco</a> joins bidding, sources say

Updates to include shares reaction in the third paragraph.

By Luciana Magalhaes and Paula Laier

SAO PAULO, Jan 26 (Reuters) - The potential sale of Brazilian aluminium producer Companhia Brasileira de Aluminio CBAV3.SA is moving forward, although discussions with Emirates Global Aluminium have slowed, according to two people familiar with the matter.

The process remains competitive, one of the sources said. China's Aluminum Corporation of China and a third bidder have been actively pursuing the deal, said one of the people and a third source involved in the negotiations. An announcement could come within days or weeks, one of the sources said, although negotiations could still fail.

On Monday, CBA shares were about 5% up in mid-morning trade in Brazil.

CBA and Grupo Votorantim, which controls CBA, declined to comment. EGA and Chinalco did not immediately respond to requests for comment.

CBA, in which Brazilian conglomerate Votorantim S.A. owns a 69% stake, produces low-carbon aluminium across seven Brazilian states.

Last October Reuters reported that EGA, jointly owned by the Abu Dhabi sovereign wealth fund Mubadala and the Dubai sovereign wealth fund Investment Corporation of Dubai, was in discussions to possibly buy the Brazilian company.

According to LSEG, CBA had a market capitalisation of $1.15 billion on Friday's close, with its shares rising nearly 84% over the last year.

(Reporting by Luciana Magalhaes and Paula Laier in Sao Paulo, Editing by Louise Heavens and Chizu Nomiyama )

((Luciana.NovaesMagalhaes@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2606245428?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-01-26 22:01","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2606245428","market":"nz","top_or_hot":-1,"title":"Brazil's CBA sale gathers pace as Chinalco joins bidding, sources say","media":"Reuters","content":"<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>UPDATE 1-Brazil's CBA sale gathers pace as <a href=\"https://laohu8.com/S/02600\">Chinalco</a> joins bidding, sources say</title></head><body><p>Updates to include shares reaction in the third paragraph.</p><p>By Luciana Magalhaes and Paula Laier</p><p>\n<span>SAO PAULO, Jan 26 (Reuters)</span><span> - </span>The potential <span>sale</span> of Brazilian aluminium producer Companhia Brasileira de Aluminio <span>CBAV3.SA</span> is moving forward, although discussions with Emirates Global Aluminium have slowed, according to two people familiar with the matter.</p><p>The process remains competitive, one of the sources said. China's Aluminum Corporation of China and a third bidder have been actively pursuing the deal, said one of the people and a third source involved in the negotiations. An announcement could come within days or weeks, one of the sources said, although negotiations could still fail.</p><p>O<span>n Monday, CBA shares were about 5% up in mid-morning trade in Brazil. </span></p><p>CBA and Grupo Votorantim, which controls CBA, declined to comment. <span>EGA</span> and Chinalco did not immediately respond to requests for comment.</p><p>CBA, in which Brazilian conglomerate Votorantim S.A. owns a 69% stake, produces low-carbon aluminium across seven Brazilian states.</p><p>Last October Reuters reported that EGA, jointly owned by the Abu Dhabi sovereign wealth fund Mubadala and the Dubai sovereign wealth fund Investment Corporation of Dubai, was in discussions to possibly buy the Brazilian company.</p><p>According to LSEG, CBA had a market capitalisation of $1.15 billion on Friday's close, with its shares rising nearly 84% over the last year.</p><p>(Reporting by Luciana Magalhaes and Paula Laier in Sao Paulo, Editing by Louise Heavens and Chizu Nomiyama )</p><p>((Luciana.NovaesMagalhaes@thomsonreuters.com))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Brazil's CBA sale gathers pace as Chinalco joins bidding, sources say</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBrazil's CBA sale gathers pace as Chinalco joins bidding, sources say\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2026-01-26 22:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>UPDATE 1-Brazil's CBA sale gathers pace as <a href=\"https://laohu8.com/S/02600\">Chinalco</a> joins bidding, sources say</title></head><body><p>Updates to include shares reaction in the third paragraph.</p><p>By Luciana Magalhaes and Paula Laier</p><p>\n<span>SAO PAULO, Jan 26 (Reuters)</span><span> - </span>The potential <span>sale</span> of Brazilian aluminium producer Companhia Brasileira de Aluminio <span>CBAV3.SA</span> is moving forward, although discussions with Emirates Global Aluminium have slowed, according to two people familiar with the matter.</p><p>The process remains competitive, one of the sources said. China's Aluminum Corporation of China and a third bidder have been actively pursuing the deal, said one of the people and a third source involved in the negotiations. An announcement could come within days or weeks, one of the sources said, although negotiations could still fail.</p><p>O<span>n Monday, CBA shares were about 5% up in mid-morning trade in Brazil. </span></p><p>CBA and Grupo Votorantim, which controls CBA, declined to comment. <span>EGA</span> and Chinalco did not immediately respond to requests for comment.</p><p>CBA, in which Brazilian conglomerate Votorantim S.A. owns a 69% stake, produces low-carbon aluminium across seven Brazilian states.</p><p>Last October Reuters reported that EGA, jointly owned by the Abu Dhabi sovereign wealth fund Mubadala and the Dubai sovereign wealth fund Investment Corporation of Dubai, was in discussions to possibly buy the Brazilian company.</p><p>According to LSEG, CBA had a market capitalisation of $1.15 billion on Friday's close, with its shares rising nearly 84% over the last year.</p><p>(Reporting by Luciana Magalhaes and Paula Laier in Sao Paulo, Editing by Louise Heavens and Chizu Nomiyama )</p><p>((Luciana.NovaesMagalhaes@thomsonreuters.com))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK0006","symbol_name":"大央企重组","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20260126:nL1N3YR0J9:2","article_id":"2606245428","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2606245428","pubTimestamp":1769436114,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"UPDATE 1-Brazil's CBA sale gathers pace as Chinalco joins bidding, sources sayUpdates to include shares reaction in the third paragraph.By Luciana Magalhaes and Paula Laier","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"601600":"中国铝业","BK0006":"大央企重组","BK0183":"MSCI概念","BK0188":"融资融券","BK0012":"证金概念","BK0233":"有色加工","BK0196":"行业龙头","BK0010":"央企","BK0028":"国家队"},"translate_title":"消息称，中铝加入竞购，巴西CBA出售步伐加快","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"601600":0.9},"content_text":"UPDATE 1-Brazil's CBA sale gathers pace as Chinalco joins bidding, sources sayUpdates to include shares reaction in the third paragraph.By Luciana Magalhaes and Paula Laier\nSAO PAULO, Jan 26 (Reuters) - The potential sale of Brazilian aluminium producer Companhia Brasileira de Aluminio CBAV3.SA is moving forward, although discussions with Emirates Global Aluminium have slowed, according to two people familiar with the matter.The process remains competitive, one of the sources said. China's Aluminum Corporation of China and a third bidder have been actively pursuing the deal, said one of the people and a third source involved in the negotiations. An announcement could come within days or weeks, one of the sources said, although negotiations could still fail.On Monday, CBA shares were about 5% up in mid-morning trade in Brazil. CBA and Grupo Votorantim, which controls CBA, declined to comment. EGA and Chinalco did not immediately respond to requests for comment.CBA, in which Brazilian conglomerate Votorantim S.A. owns a 69% stake, produces low-carbon aluminium across seven Brazilian states.Last October Reuters reported that EGA, jointly owned by the Abu Dhabi sovereign wealth fund Mubadala and the Dubai sovereign wealth fund Investment Corporation of Dubai, was in discussions to possibly buy the Brazilian company.According to LSEG, CBA had a market capitalisation of $1.15 billion on Friday's close, with its shares rising nearly 84% over the last year.(Reporting by Luciana Magalhaes and Paula Laier in Sao Paulo, Editing by Louise Heavens and Chizu Nomiyama )((Luciana.NovaesMagalhaes@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2606245428","isCrawlerRequest":true}