Rio Tinto has completed the divestment of its talc business to Imerys, a world leader in adding value to industrial minerals, for an enterprise value of US$340 million.
The company acknowledged receipt of the binding offer from Imerys on 23 February 2011 and subsequently accepted the offer on 10 June 2011.
The talc business has about 1,000 employees at 20 locations in Europe, North America, Australia and Asia.
Since 2008, Rio Tinto has completed more than 20 divestments with total gross proceeds in excess of US$11 billion.
