Ma'aden to acquire a 20.62% stake in Aluminium Bahrain from SABIC for BHD363.1m.

Ma'aden, a Saudi state-owned mining company, agreed to acquire a 20.62% stake in Aluminium Bahrain, a Middle East aluminum smelter, from SABIC, a Saudi chemical and steel manufacturing company, for BHD363.1m. “As we continue in our growth journey, the acquisition of shares in a highly experienced, well developed regional and global aluminum player firmly supports our ambitions. This week we have announced a number of transactions that align with our strategic intent to strengthen and expand our business both regionally and internationally, further building mining as the third pillar of the Saudi economy,” Bob Wilt, Ma'aden CEO.