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Alcoa said it will sell a stake in an aluminum refinery in western Australia to satisfy the requirements of government regulators there for its purchase of Reynolds Metals Co. Alcoa said it will sell Reynolds Australia Aluminum Ltd., which owns 56% of the Worsley alumina refinery, to Billiton of London for $1.49 billion. Billiton already owns 30% of the Worsley property. The remaining 14% is owned jointly by Kobe Steel, Nissho Iwai and Itochu of Japan.
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