Maaden and Alba’s Aluminum Deal Talks End
Negotiations between Saudi Arabia’s Maaden and Bahrain’s Alba to form a major aluminum entity have concluded without a deal. Alba’s shares fell by 8.6% in Bahrain, while Maaden saw a 0.7% decrease.
Maaden had proposed to transfer its entire share capital from two subsidiaries—Maaden Aluminium Co. and Maaden Bauxite and Alumina Co.—to Alba in exchange for new Alba shares. Despite extending discussions last month, both companies did not provide reasons for ending the talks.
Previously, Maaden agreed to purchase Alba shares from a Saudi Basic Industries Corp. unit in a transaction worth approximately $1 billion. Over recent years, Maaden and Alba have emerged as significant figures in the global aluminum sector, particularly in specialized products traditionally controlled by a few suppliers.