GAC OKS MAY’S TAKEOVER OF MAY BAUXITE, MAY ALUMINUM

Saudi Arabian Mining Co. (Maaden) headquarters

The Regular Authority for Competitors (GAC) authorized Saudi Arabian Mining Co. ( The way) acquiring a 25.1% stake in Maaden Bauxite and Alumina Co. (MBAC) and 25.1% of Maaden Aluminium Co. (MAC).

Per records available in the market on ArgaamMaaden signed, in September 2024, a fraction purchase and subscription settlement (SPSA) with Alcoa Corporation (guarantor), AWA Saudi Restricted (first seller) and Alcoa Saudi Smelting Inversiones S.L. (2nd seller).

Below the deal, Maaden will create the full 25.1% stake (128.01 million strange shares) held by AWA in MBAC. It can well possibly additionally purchase out Alcoa Saudi’s 25.1% stake (165 million strange shares) in MAC.

For additional files and traumatic capabilities on M&As

MBAC is a restricted liability firm integrated below the laws of the Kingdom of Saudi Arabia, which operates in mining bauxite and refining it to manufacture alumina. MBAC’s authorized fragment capital is SAR 5.1 billion, divided into 510 million strange shares, at a par fee of SAR 10 per fragment, of which Maaden currently owns 381.99 million strange shares, or 74.9% of the full issued fragment capital of MBAC.

MAC is a restricted liability firm integrated below the laws of the kingdom of Saudi Arabia, which operates in smelting, and casting aluminum and its alloys, and non-ferrous metals casting. MAC’s gentle fragment capital is SAR 6.57 billion, divided into 657.38 million strange shares, at a par fee of SAR 10 per fragment, of which Maaden currently owns 492.37 million strange shares, representing 74.9% of the full issued fragment capital of MAC.