Alcoa set to sell stake in DBP to Duet Group


Alcoa of Australia has agreed to sell its stake in DBP, the owner and operator of the Dampier to Bunbury Natural Gas Pipeline (DBNGP), to Duet Group (Duet) for A$205 million.

Image credit: Alcoa Twitter page
Image credit: Alcoa Twitter page

The company said that as part of the transaction, it will maintain its current access to approximately 30% of the DBNGP transmission capacity for gas supply to its three alumina refineries in Western Australia.

“The sale is expected to close in early April. The Company expects to recognise a gain in connection with the sale of between $10 million and $15 million, after-tax and non-controlling interest, or $0.01 per share,” Alcoa said in a press release.

“Alcoa of Australia expects the net cash impact of the transaction, after estimated fees and taxes, will be approximately US$115 million.”

Alcoa of Australia is owned 60% by Alcoa Inc., and 40% by Alumina Limited.

DBP is currently owned 20% by Alcoa of Australia and 80% by DUET.