arabnews.pk

Ma’aden to acquire SABIC stake in Aluminium Bahrain for SR3.62–3.97bn

Ma'aden logoMa'aden
Sig3.85Sen+4.45Env0.00Soc0.00Gov0.00
SABIC logoSABIC
Sig2.45Sen+1.35Env-0.20Soc0.00Gov+0.30

Ma’aden plans to acquire SABIC’s 20.62% shareholding in Aluminium Bahrain (Alba). Sale proceeds are expected between SR3.62 billion and SR3.97 billion. The move follows a day after Ma’aden signed a non-binding agreement to potentially merge its aluminum operations with Alba’s and expand its aluminum business as a core part of its 2040 strategy.

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