Rio finds the obstacles to aluminium asset sales growing, while Brambles' Recall business attracts attention.

In the past week, a global oversupply of aluminium and rising electricity costs have underlined the challenges ahead for Rio Tinto as it seeks to float Pacific Aluminium or palm it off through a trade sale. Now it’s time for the Australian dollar to frustrate the mining giant. Rio might have to take its time in order to get a good price for these assets. Speaking of which, time is what Brambles has on its side to sell its US document management business, Recall, and it’s showing in the valuations. Meanwhile, analysts are starting to place a much higher value on Pacific Brands than the original $600 million figure that was kicked around, Extract Resources has won a crucial tick from the Namibian government that should ensure a bid from China Guangdong Nuclear becomes reality and South Africa’s Exxaro is hoping to avoid a showdown with one of African Iron’s major shareholders.

Rio Tinto, Pacific Aluminium



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