{"id":94623,"date":"2025-02-20T00:00:00","date_gmt":"2025-02-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/20\/maaden-finalizes-sar-3-6-bn-alba-stake-purchase-in-bahrains-alba-from-sabic\/"},"modified":"2025-02-20T00:00:00","modified_gmt":"2025-02-20T00:00:00","slug":"maaden-finalizes-sar-3-6-bn-alba-stake-purchase-in-bahrains-alba-from-sabic","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/20\/maaden-finalizes-sar-3-6-bn-alba-stake-purchase-in-bahrains-alba-from-sabic\/","title":{"rendered":"Maaden finalizes SAR 3.6 bn Alba stake purchase in Bahrain\u2019s Alba from Sabic"},"content":{"rendered":"

Ma\u2019aden buys SABIC out of Bahrain\u2019s Alba in push towards green metals:<\/strong> Saudi Basic Industries (Sabic) wrapped up the sale of its entire 20.62% stake in Bahrain Bourse-listed Aluminium Bahrain (Alba) to Saudi Arabian Mining (Ma\u2019aden) following regulatory approvals, according to two separate filings to Tadawul (here<\/a> and here<\/a>). Sabic lined up some SAR 3.6 bn in proceeds from the sale, which saw Ma\u2019aden purchase some 292.8k ordinary shares in Alba from a subsidiary of Sabic.<\/p>\n

REMEMBER- <\/strong>Ma\u2019aden agreed to acquire a stake<\/a> in Alba through a share swap to cross-list it on the Saudi Exchange last September. The move was initially part of a scrapped plan<\/a> that included a potential merger between Ma\u2019aden and Alba. <\/p>\n

Alba is expanding its green aluminum production: <\/strong>The company partnered with Japan\u2019s Daiki Aluminium in August 2024<\/a> to develop a recycling facility for aluminum dross\u2014a byproduct of the smelting process\u2014to recover valuable metal and cut waste. Meanwhile, Alba is installing a 680.9 MW hydrogen-ready turbine<\/a>, the first of its kind globally, at its fifth power plant. The company is also working with Mitsubishi to develop CO2 capture technology<\/a>, aiming to remove 500k-1 mn metric tons of emissions per year by 2030.<\/p>\n

Market Reax<\/strong>: Ma\u2019aden\u2019s stock climbed 0.31% on the news closing at SAR 48.35 yesterday, while Sabic\u2019s share price remained unchanged at SAR 65.70. Meanwhile, Alba\u2019s stock was up nearly 0.1% at BHD 1.10.<\/p>\n

ADVISORS- <\/strong>Merrill Lynch KSA has been the financial advisor for Ma\u2019aden, with AS&H Clifford Chance Law Firm serving as counsel. Meanwhile, Moelis & Company UK has been Alba\u2019s financial advisor on the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"

The companies were originally on track for a merger before talks were halted abruptly last month<\/p>\n","protected":false},"author":1,"featured_media":94624,"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":[1371,10,14,102,138],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-bahrain","tag-enterpriseam-ksa","tag-ma-watch","tag-maaden","tag-sabic","wpautop","entry"],"acf":{"mongo_id":"aa9e4cf4-fd3f-4053-b8b5-d74b2428f40a","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1402.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Maaden finalizes SAR 3.6 bn Alba stake purchase in Bahrain\u2019s Alba from Sabic","related_issue":[94611],"teaser":"The companies were originally on track for a merger before talks were halted abruptly last month","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.b2bec85c-eef5-47dc-a4b3-a291e305bd01.mp3"},"yoast_head":"\nMaaden finalizes SAR 3.6 bn Alba stake purchase in Bahrain\u2019s Alba from Sabic - 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