Alcoa Inc.is selling its 20% stake in the Dampier-Bunbury gas pipeline in WesternAustralia to energy infrastructure owner Duet Group for A$205 million, thecompany said March 30.
Under the deal, the company will get to keep about 30% ofthe pipeline's transmission capacity for gas supply to its three aluminarefineries in Western Australia.
The company is expected to recognize a post-tax gain of upto US$15 million, or 1 U.S. cent per share from the stake sale while willbook a net cash impact of about US$115 million from the transaction.
Alcoa owns 60% stake in the Australian unit while theremaining 40% is owned by ASX-listed AluminaLtd.