And in case you missed the news,
From FT.com
Rio Tinto, the troubled mining group, on Thursday unveiled controversial plans to receive a $19.5bn cash injection from Chinalco and reported a 50 per cent fall in full-year profit after taking a one-off charge for writing down the value of its aluminium assets.
The planned deal, which involves the sale of minority stakes in some of Rio’s best mining assets and the issue of convertible bonds, marks the biggest ever investment by China in a foreign company.
However, the deal is expected to face close scrutiny from investors and regulators around the world.
Within minutes of the announcement, the Australian government moved swiftly to tighten its own foreign ownership laws. Wayne Swan, federal treasurer, said that the government would treat convertible debt as if it were equity, with the change effective immediately.
Related links:
Pioneering strategic partnership – Rio Tinto
Rio to gain $19bn Chinese cash injection – FT.com
Chinalco deal raises tough questions for Rio – FT.com
So Leng Rio Tinto – FT Alphaville