PE conglomerate eyes up Rio Tinto Alcan division

According to reports a Franco-American private equity conglomerate including Carlyle, Eurazeo, Apollo, AXA Private Equity, TPG and la Caisse des Depots are considering an offer for Rio Tinto Alcan's aeronautics and automotive unit, Alcan Engineered Products. Deutsche Bank and Rothschild are overlooking the sale of the division valued at $6bn. Rio Tinto's sale of certain divisions is an attempt to fend off the hostile takeover from BHP Billition. The mining company's division, originally based in France and founded in 1855, was previously known as Pechiney before Rio Tinto acquired the company in 2003 and moved its headquarters to Canada. The company still has 5,300 employees in France.

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