Scottish Widows Investment Partnership Thursday said it is disappointed with the structure of a deal that will see Aluminum Corp. of China (ACH) invest $19.5 billion in Rio Tinto PLC (RTP).

"We are very disappointed that Rio Tinto has decided to override our clients' preemption rights and issue attractive equity to one shareholder without offering it to all shareholders," said Robert Waugh, head of U.K. equities at Scottish Widows Investment Partnership.

"We will be engaging with the board with a view to protecting our clients' interests," Waugh added.

Company Web site: www.swip.com

-By Jeffrey Sparshott, Dow Jones Newswires; +44 (0)207 842 9347; jeffrey.sparshott@dowjones.com