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Alcoa To Exit 25.1% Stake In Ma’aden JV For $1.1 Billion

Summary by DNyuz
U.S. aluminum giant Alcoa revealed an agreement to sell its 25.1% stake in the Ma’aden joint venture to Saudi Arabian mining company Ma’aden for $1.1 billion to simplify its portfolio in Saudi Arabia and enhance financial flexibility. The consideration includes cash of $150 million and 86 million shares of Ma’aden valued at ​$950 million based on the volume-weighted average share price of Ma’aden for the last 30 calendar days as of September 12,…

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DNyuzDNyuz

Alcoa To Exit 25.1% Stake In Ma’aden JV For $1.1 Billion

U.S. aluminum giant Alcoa revealed an agreement to sell its 25.1% stake in the Ma’aden joint venture to Saudi Arabian mining company Ma’aden for $1.1 billion to simplify its portfolio in Saudi Arabia and enhance financial flexibility. The consideration includes cash of $150 million and 86 million shares of Ma’aden valued at ​$950 million based on the volume-weighted average share price of Ma’aden for the last 30 calendar days as of September 12,…

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Gulf BusinessGulf Business

Saudi Ma’aden acquires 25.1% stake in Ma’aden JV for $1.1bn

The deal, which is expected to be completed in Q1 2025, is subject to regulatory and corporate approvals The post Saudi Ma’aden acquires 25.1% stake in Ma’aden JV for $1.1bn appeared first on Gulf Business.

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AGBIAGBI

Maaden to buy Alcoa stake in Saudi venture for $1.1bn

Saudi Arabian Mining Company (Maaden) will purchase a 25.1 percent stake from US aluminium producer Alcoa in their joint venture for $1.1 billion. The transaction includes 86 million shares of Maaden, valued at ​$950 million, and $150 million in cash. The joint venture, established in 2009, is a fully integrated mining complex in Saudi Arabia consisting of two entities: Maaden Bauxite and Alumina Company, which operates a bauxite mine and alumin…

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Financial IntelligenceFinancial Intelligence

Alcoa to sell 25.1% stake in Saudi Arabia's Ma'aden joint venture for $1.1 billion — Financial Intelligence

U.S. aluminum producer Alcoa announced on Sunday that it would sell a 25.1% stake in the joint venture [...] The post Alcoa will sell a 25.1% stake in Saudi Arabia's Ma'aden joint venture for $1.1 billion appeared first on Financial Intelligence.

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Australian ManufacturingAustralian Manufacturing

ASX-listed Alcoa to sell 25.1% stake in Ma’aden JV for $1.1B - Australian Manufacturing

Alcoa announced today it has agreed to sell its 25.1 per cent stake in the Ma’aden Joint Venture to Saudi Arabian Mining Company (Ma’aden) for approximately $1.1 billion.  This deal, formalised through a binding share purchase and subscription agreement, involves Ma’aden purchasing Alcoa’s entire interest in the joint venture for a combination of 86 million shares and $150 million in cash. According to the ASX-listed company, the transaction inc…

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Wall Street ItaliaWall Street Italia

Alcoa sells its 25.1% stake in a joint venture with Ma'aden for 1.1 billion dollars

Alcoa decided to sell its 25.1% stake in the joint venture with Ma'aden, obtaining 150 million dollars in cash and 86 million Ma'aden shares. The deal, worth a total of 1.1 billion dollars, aims to simplify Alcoa's portfolio in Saudi Arabia.

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