Alba and Ma'aden call off merger talks
Deal News | Jan 13, 2025 | Zawya
Aluminium Bahrain B.S.C. (Alba), Bahrain's largest listed company, and Saudi Arabian Mining Co. (Ma'aden) have mutually agreed to halt merger talks that aimed to create a global aluminium powerhouse. The discussions involved Ma'aden potentially selling three of its aluminium units, including Maaden Aluminium Co., to Alba for a share allocation in Alba. Both parties also agreed to terminate the contract related to marketing and selling products from Maaden Aluminium Co. Previously, Ma'aden had extended the period for non-binding terms of the merger until the second quarter of 2025, and its shareholders approved the acquisition of Sabic's stake in Alba, a transaction valued at about $1 billion.
Sectors
- Metals & Mining
Geography
- Bahrain – Alba is a Bahrain-based company, and the article discusses its business dealings.
- Saudi Arabia – The other party in the article, Ma'aden, is based in Saudi Arabia.
Industry
- Metals & Mining – The article involves Aluminium Bahrain B.S.C. and Saudi Arabian Mining Co., both key players in the aluminium sector.
Financials
- $1 billion – The transaction value for Ma'aden's acquisition of Sabic's stake in Alba.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Aluminium Bahrain B.S.C. (Alba) | Target company | Companies | Bahrain’s largest listed company and a significant aluminium smelter. |
| Saudi Arabian Mining Co. (Ma'aden) | Selling Company | Companies | Saudi Arabia's national mining company and a major aluminium producer. |
| Maaden Aluminium Co. | Subsidiary | Companies | Subsidiary of Ma'aden involved in potential sale as part of merger talks. |
| Brinda Darasha | Writer | People | Author of the news piece. |
| Seban Scaria | Editor | People | Editor of the news piece. |