Pinnacle Invests in Strategic Partnership Between Atlantic Alumina and the U.S. Government

Paul, Weiss is advising a fund managed by Pinnacle Asset Management, L.P. in connection with a $450 million strategic partnership between Atlantic Alumina Company LLC, the only operating alumina refinery in the United States; the U.S. Department of War; and Concord Resources Holdings Limited. Under the terms of the deal, the Pinnacle fund, which is Concord’s majority shareholder, has invested more than $300 million in private capital in this partnership.

The deal is designed to sustain and increase domestic alumina production and establish the country’s first and only large-scale primary gallium production circuit in Gramercy, Louisiana. Both alumina and gallium are essential minerals for production of aerospace and defense systems, catalysts, semiconductors and next-generation energy technology.

The Paul, Weiss team is led by partners Brian Hermann and Cullen Sinclair and associates Nicholas Krislov and Jenna Glicksman, and includes corporate partners Udi Grofman, Timothy Cruickshank and David Tarr; tax partners Robert Holo and Jamie Chambers; environmental partner Stefanie Gitler; and antitrust counsel John Magruder.