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 metals and mining industry.
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 the Pittsburgh-based firm selling its stake in two metals plants in northern Saudi Arabia.
Alcoa to Sell Saudi Arabia Venture Stake in $1.1 Billion Deal
Alcoa has agreed to sell its 25.1% stake in a joint venture with Saudi Arabian Mining, the state-owned mining company better known as Ma'aden, to Ma'aden in a deal valued at about $1.1 billion. Alcoa on Sunday said it will receive $150 million in cash and about 86 million Ma'aden shares valued at around $950 million for its stake in the venture,
Alcoa Stock Rises After Company Sells Stake in Saudi Arabia Joint Venture
Key Takeaways Alcoa said it was selling off its stake in a Saudi Arabia joint venture to improve its long-term competitiveness.The company held 25.1% of the Saudi Arabia Mining Company, or Ma'aden, and the deal will give Alcoa $1.
Alcoa to sell off joint venture in Saudi Arabia
The terms of the deal require Alcoa to keep the Ma’aden shares for three years, and transfer up to one-third o
Alcoa Strikes $1.1 Billion Stock-Cash Deal to Exit Saudi Arabian Aluminum Joint Venture
Alcoa (AA) agreed to offload its entire stake in a joint venture with Saudi Arabian Mining, known as Ma'aden, to the state-owned mining company in a stock and cash deal worth $1.1 billion. The aluminum manufacturer will sell its 25.
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.
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 ...
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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 ...
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SABIC to sell its stake in Alba to Ma'aden for about $1 bln
DUBAI, Sept 18 (Reuters) - Saudi Basic Industries Corp (SABIC) (2010.SE), opens new tab, one of the world's biggest petrochemicals companies, said on Wednesday it will sell its minority stake in ...
Mining3d
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.
Gulf Business3d
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 ...
Gulf News3d
Saudi Arabia’s Maaden acquires Sabic’s 20% stake in Bahrain’s ALBA
Firms also agreed to seek a cross-listing of Alba shares on the Saudi stock exchange Ma’aden is the largest multi-commodity mining and metals company in the Middle East and among the fastest ...
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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 ...
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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 ...