Kaiser Aluminum Completes Sale Of Alumina Refinery 

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Updated: Tuesday, September 4, 2001 05:21 PM ET 

HOUSTON (Dow Jones)--Kaiser Aluminum & Chemical Corp., a unit of Kaiser Aluminum Corp. (KLU), completed the sale of its 8.3% interest in Queensland Alumina Ltd. 

In a press release Tuesday, Kaiser said it sold its stake to Comalco Ltd. 

On June 17, Kaiser Aluminum agreed to sell its 8.3% interest in Queensland Alumina to Rio Tinto PLC's (RTP, news, msgs) Comalco Ltd unit. 

At that time, Kaiser said the $189 million transaction would include about $159 million cash plus about $30 million in debt assumption and said the sale to result in a gain of at least $75 million. 

A Thomson Financial/First Call survey of five analysts yielded a second quarter loss estimate of 24 cents a share. 

Kaiser Aluminum produces alumina, primary aluminum, and fabricated aluminum products. 

Maxxam Inc. (MXM) holds about 62% of Kaiser.