{"id":89761,"date":"2024-09-18T00:00:00","date_gmt":"2024-09-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/18\/maaden-to-acquire-sabics-shares-in-bahrains-alba\/"},"modified":"2024-09-18T00:00:00","modified_gmt":"2024-09-18T00:00:00","slug":"maaden-to-acquire-sabics-shares-in-bahrains-alba","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/18\/maaden-to-acquire-sabics-shares-in-bahrains-alba\/","title":{"rendered":"Ma\u2019aden to acquire Sabic\u2019s shares in Bahrain\u2019s Alba"},"content":{"rendered":"

Ma\u2019aden wants Sabic\u2019s stake in Aluminum Bahrain<\/strong>:<\/strong> Saudi Arabian Mining Company (Ma\u2019aden) signed a share purchase agreement to acquire Sabic\u2019s entire 20.6% stake in Aluminum Bahrain (Alba), according to disclosures to Tadawul here<\/a> and here<\/a>. The acquisition involves the purchase of 292.8k ordinary shares for a total cost ranging between SAR 3.62 bn to SAR 3.97 bn, depending on the mechanism determined in the share purchase agreement. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Background:<\/strong> Earlier this week, Ma\u2019aden agreed to acquire a 51% stake in Aluminum Bahrain<\/a>(Alba)<\/a>, pending regulatory approval. The agreement would involve Ma\u2019aden swapping its full share capital of subsidiaries Ma\u2019aden Aluminum and Ma\u2019aden Bauxite and Alumina for new shares in Alba. Additionally, Ma\u2019aden signed a binding agreement to purchase a 25.1% stake<\/a> in its joint venture with Alcoa for USD 1.1 bn. <\/p>\n

What happens next?<\/strong> After the transaction, Ma\u2019aden will become Alba\u2019s second-largest shareholder and secure two board seats. It will fund the purchase through its own resources and existing facilities.<\/p>\n

ADVISORS- Merrill Lynch KSA<\/strong> is the financial advisor, while AS&H Clifford Chance Law<\/strong> Firm<\/strong> is the legal advisor, while Moelis & Company UK <\/strong>is advising Alba on the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"

This will boost Ma\u2019aden\u2019s holding in Alba to 20.6%<\/p>\n","protected":false},"author":1,"featured_media":89762,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[10,31,14,102,138],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam-ksa","tag-investment-watch","tag-ma-watch","tag-maaden","tag-sabic","wpautop","entry"],"acf":{"mongo_id":"9841af80-7437-460f-89dc-0f107ad8cb23","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1391.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Ma\u2019aden to acquire Sabic\u2019s shares in Bahrain\u2019s Alba","related_issue":[89752],"teaser":"This will boost Ma\u2019aden\u2019s holding in Alba to 20.6%","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.e727710a-2b95-442c-a0ce-0a7ce7725ca3.mp3"},"yoast_head":"\nMa\u2019aden to acquire Sabic\u2019s shares in Bahrain\u2019s Alba - 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