Anglo-Australian miner Rio Tinto (ASX: RIO) has completed the sale of a 61 per cent interest in Alcan Engineered Products (AEP) to a number of investment funds.

"Apollo is now the majority shareholder in AEP with a 51 per cent stake in a new holding company for AEP, with the FSI holding 10 per cent. Rio Tinto holds a 39 per cent stake," Rio Tinto said in a statement on Wednesday.

Rio Tinto chief financial officer Guy Elliott said "The closing of our majority divestment in AEP marks Rio Tinto's exit of substantially all downstream businesses. Since 2008, we have completed divestments in excess of US$11 billion."

In 2009, Rio Tinto divested the Composites division of the Engineered Products business. The Group maintains its ownership of Alcan Cable.

In 2010, Rio Tinto completed divestments of US$4.2 billion comprising Alcan Packaging Food Americas, Alcan Packaging global Pharmaceuticals, global Tobacco, Food Europe and Food Asia divisions, Vickery (Coal & Allied), Maules Creek (Coal & Allied), Alcan Beauty Packaging, Alcan Medical Flexibles and Cloud Peak Energy.

The terms of the AEP transaction are confidential.