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Maaden in Talks to Sell Aluminum Units to Bahrain’s Alba
Aluminum supplier Saudi Arabian Mining Co., which just signed a deal with Alcoa Corp., is pursuing another transaction to swap two subsidiaries for shares in a Bahrain-based rival.
Saudi Ma’aden to buy nearly 21% stake in Bahrain’s Alba for $1bn
The Alba deal is valued between $963.25m and $1.06bn (BHD363m and 398m), and the proceeds will help SABIC grow in the chemicals industry.
Saudi Ma’aden plans to sell aluminium units to Bahrain’s Alba
Alba said the potential deal will reshape the aluminium market, positioning the merged entity as one of the largest aluminium producers worldwide.
Ma’aden to acquire 20.62% stake in Aluminium Bahrain from SABIC
The latest transaction is indicative of Ma’aden’s continued growth and ambitions to grow 10 times by 2040, it said.
SABIC sells Alba shares to Ma’aden
SABIC, a Saudi-based global diversified chemicals company, has signed an agreement with Saudi Arabian Mining Company (Ma'aden) for the sale of its 20.62% shareholding in Aluminum Bahrain (Alba). The sales proceeds are expected to be within a range of BD363 million ($963.45 million) to BD398 million ($1,056.34 million), said a statement.
Ma’aden pursues merger of aluminium operations with Bahrain’s Alba
Saudi state-owned miner Ma'aden is exploring a merger of its aluminium business with Aluminium Bahrain (Alba), which would potentially form one of the largest producers in the global aluminium market.
Ma’aden, Bahrain’s Alba partner to pursue global aluminum business
This potential combination of Ma’aden’s aluminium business and Alba would create a global powerhouse in aluminium production, the companies said in a news release. They also said the deal would bring together more than 75 years of combined experience with the financial strength and production capacity to compete globally.
3d
Saudi Arabia Strikes $1 Billion Deal as Aluminum Drive Picks Up
Saudi Arabia has announced three deals in as many days as the oil-rich kingdom looks to accelerate the expansion of its ...
اخبار 24
4d
Maaden signs SPSA to take over Maaden Bauxite, Maaden Aluminium
Saudi Arabian Mining Co. (Maaden) signed today, Sept. 15, a share purchase and subscription agreement (SPSA) with Alcoa ...
4d
Alcoa to get US$1.1bil for stakes in Saudi aluminium plants
Riyadh: Alcoa Corp will receive US$1.1bil in cash and stock in Saudi Arabian Mining Co as part of a deal that will involve ...
MEED
3d
Sabic to divest stake in Bahrain's Alba to Maaden
The Saudi chemicals giant will sell its 20.62% stake in the Bahraini aluminium producer to the Saudi mining firm in a ...
اخبار 24
3d
Alba stock soars 20% on Maaden deal
Shares of Aluminium Bahrain (Alba) rose today on Bahrain Bourse by 15% to BHD 1.219, hitting their highest level since ...
1d
Saudi Arabia Targets Control of Alba to Bolster Metals Ambitions
Saudi Arabia aims to gain control of Bahrain’s aluminum smelter, furthering its plan for mining and metals to become a “third pillar” of the kingdom’s economy.
5d
Alcoa To Sell 25.1% Stake In Ma'aden Joint Venture To Saudi Mining Company For $1.1 Bln
Alcoa Corp (AA, AAI.AX), aluminum manufacturer, said Sunday that it agreed to sell its full ownership interest of 25.1% in the ...
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