Alcoa Inc. and Alumina Ltd have reached an agreement that changes the terms of their joint venture, settling Alcoa's lawsuit against Alumina and effectively clearing away any legal speed bumps for Alcoa's upcoming split. The companies announced amendments to their Alcoa World Alumina and Chemicals (Awac) joint venture on 1 September, adjusting future alumina and bauxite off-take rights and terminating exclusivity provisions that would require an acquirer of either company to sell into Awac or divest any of its bauxite or alumina assets, among other changes. The lawsuit, filed by Alcoa in the Delaware Court of Chancery, has been dismissed thanks to the updated agreement.
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