Saudi Arabian Mining Company (Ma’aden) has finalized the regulatory procedures for acquiring a 20.62% stake in Aluminium Bahrain B.S.C. (Alba). The shares, previously held by SABIC Industrial Investments Company (SIIC), a wholly owned subsidiary of Saudi Basic Industries Corporation (SABIC), were sold for BHD 363.07 million (approximately SAR 3.61 billion).
This acquisition increases Ma’aden’s total ownership in Alba to 20.62%. The transaction follows announcements published by Ma’aden on the Saudi Exchange (Tadawul) on 14 and 15 March 1446H (17 and 18 September 2024G), confirming the purchase of the entire SIIC shareholding in Alba. The sale price for the shares ranged from BHD 363.08 million (about SAR 3.62 billion) to BHD 398.21 million (about SAR 3.97 billion).
