Alba announces Ma’aden as a major shareholder
MANAMA, February 23, 2025
Aluminium Bahrain (Alba), the world’s largest smelter on one site, has announced Saudi Arabian Mining Company (Ma’aden) as its new strategic shareholder following the acquisition of SABIC’s 20.62% stake in Alba.
The c.US$1 billion transaction marks a transformative moment for Alba and reinforces its position as a global leader in the aluminium industry, the company said.
Welcoming Ma’aden to Alba’s shareholder base, Alba’s Chairman of the Board, Khalid Al Rumaihi stated:
“We are pleased to welcome Ma’aden as a strategic shareholder in Alba. This landmark transaction underscores Alba’s operational excellence and growth potential. Together with Ma’aden, we will unlock synergies that strengthen our competitive edge globally while advancing our shared commitment to sustainability and innovation.
“This partnership also deepens the strong economic ties between Bahrain and Saudi Arabia as we embark on an exciting chapter of collaboration and growth.”
With this acquisition, Alba’s major shareholders now comprise Bahrain Mumtalakat Holding Company and Ma’aden, together reinforcing the company’s strong foundation for future growth, it said. – TradeArabia News Service
