Glencore Bolsters Aluminum Position in $1.1 Billion Deal (1)

Glencore Plc will buy stakes in bauxite and alumina assets in Brazil from Norsk Hydro ASA and Vale SA, strengthening the commodity giant’s position in the global aluminum market.

The company will buy 30% of the Alunorte alumina refinery from Hydro and acquire a 45% stake in bauxite producer Mineracao Rio do Norte from Vale and Hydro in a deal carrying an enterprise value of $1.1 billion, Glencore and Hydro said on Thursday. Hydro will buy 40% of MRN from Vale and immediately sell it on to Glencore, it said.

Glencore is the leading global trader of aluminum, but ...