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