Global Alumina Announces Agreement to Sell Its Interests In Guinea Alumina Corporation

Global Alumina Announces Agreement to Sell Its Interests In Guinea Alumina 
TORONTO, May 15, 2013 /CNW/ - Global Alumina Corporation (TSX: GLA.U) (the 
"Company" or "Global Alumina") announced today that it has signed a share 
purchase agreement ("SPA") with DM GAV Limited, a company established and 
owned equally by Mubadala Development Company PJSC and Dubai Aluminium, to 
sell all of Global Alumina's interests in Guinea Alumina Corporation Limited 
("Guinea Alumina") to DM GAV.  Pursuant to the SPA, DM GAV will make a US$2 
million advance payment to Global Alumina on signing of the SPA and will pay 
an additional US$36 million upon completion of the transactions contemplated 
by the SPA ("Completion"), which is scheduled to occur on or before August 31, 
2013.  A copy of the SPA will be available on the Company's SEDAR reference 
page at 
Coincident with this transaction, Global Alumina International Limited 
("GAIL") and The Broken Hill Proprietary Company Pty Limited ("BHP Billiton") 
have agreed to terminate their share purchase agreement which was announced on 
November 1, 2012.  Concurrent with this termination and execution of the SPA, 
DM GAV signed a share purchase agreement directly with BHP Billiton to buy all 
of BHP Billiton's interests in Guinea Alumina. 
Conditions to Completion include no objection having been received from the 
Government of Guinea, completion of DM GAV's acquisition of BHP Billiton's 
interests in Guinea Alumina and Global Alumina's regulatory and shareholder 
approvals.  These conditions must be satisfied by August 31, 2013 or the SPA 
may be terminated. 
Global Alumina intends to use the US$2 million advance payment to fund accrued 
liabilities and ongoing corporate costs until Completion.  Under the SPA, the 
Company has given limited representations and warranties some of which will 
survive for up to two years following Completion. 
The Company plans to call a special and general meeting of its shareholders as 
soon as practically possible to approve the SPA and the transactions 
contemplated thereby. 
A management information circular describing the background to, and terms of, 
the proposed transaction will be mailed to shareholders in advance of the 
meeting after due consideration by the Company's board of directors.  The 
management information circular will also be made available on the Company's 
reference page at 
About Global Alumina 
Global Alumina is in a joint venture through its wholly-owned subsidiary, 
Global Alumina International, Ltd., with BHP Billiton, Dubai Aluminium and MDC 
Industry Holding Company LLC (as successor to Mubadala Development Company 
PJSC), to develop an alumina refinery in the bauxite-rich region of the 
Republic of Guinea.  Global Alumina is headquartered in Saint John, New 
Brunswick and has administrative offices in New York, London and Montreal.  
For further information visit the Company's website at 
Forward Looking Information 
Certain information in this press release is "forward looking information", 
which reflects management's expectations regarding the Company's future and 
business prospects and opportunities.  Such forward looking information 
reflects management's current beliefs and is based on information currently 
available to management.  Forward looking information involves significant 
risks and uncertainties, should not be read as a guarantee of future 
performance or results, and will not necessarily be accurate indications of 
whether or not or the times at, or by which, such performance or results will 
be achieved.  If the assumptions underlying forward looking information prove 
incorrect or if other risks or uncertainties materialize, actual results may 
vary materially from those anticipated in this release.  This forward looking 
information is made as of the date of this release, and Global Alumina assumes 
no obligations to update or revise it to reflect new events or circumstances 
except as required by applicable law. 
For further information, please contact: 
Michael Cella Global Alumina  212 351 0010 
SOURCE: Global Alumina Corporation 
To view this news release in HTML formatting, please use the following URL: 
CO: Global Alumina Corporation
ST: Ontario
-0- May/15/2013 20:02 GMT
Press spacebar to pause and continue. Press esc to stop.