Alcoa completes deal for Billiton Suriname stake

NEW YORK – Aluminum producer Alcoa said Friday that it has closed a deal to buy Australia-based BHP Billiton's bauxite and alumina refining operations in Suriname. Terms of the deal, which was first announced in April, were not announced. Alcoa's Suralco subsidiary had been in a joint partnership with Billiton on mining and refining since 1984 in the South American country. A Billiton subsidiary held a 45 percent stake in Suralco and a 55 percent interest in the companies' joint ventures. Shares of Alcoa rose 30 cents, or 2.6 percent, to close at $11.76.