Ma'aden & Alba mutually agree to discontinue discussions on merge of their aluminum units
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Update time : 2025-01-14 16:16:51
Saudi Arabian Mining Company (Ma'aden) and Aluminium Bahrain BSC (Alba), mutually agreed to end discussions on merging Alba with segments of Ma’aden’s aluminium strategic business unit based on each company's strategy and conditions, according to Alba CEO Ali Al Baqali, who emphasized no disputes were involved.
Ma'aden announced terminating the proposed deal with Alba, which involved contributing its entire capital of Ma'aden Aluminium Company (MAC) and Ma'aden Bauxite and Alumina Company (MBAC) to Alba, which would issue new shares to Ma’aden.
