Aluminium Bahrain B.S.C. (Alba) has taken significant steps toward exploring a potential merger with the Saudi Arabian Mining Company (Maaden), appointing several top-tier advisors to guide the due diligence process.
In a disclosure to the Bahrain Bourse, Alba confirmed the appointment of Moelis & Company UK LLP as its financial advisor, Hatch as its technical advisor, and McKinsey & Company to provide commercial guidance. PricewaterhouseCoopers Bahrain Ltd. will serve as financial and tax advisors, while Teneo will handle public relations. Freshfields Bruckhaus Deringer LLP has been named the legal advisor for the process.
Alba reiterated its commitment to transparency and adherence to all regulatory requirements, assuring that updates will be provided as the evaluation progresses.
With an annual production capacity exceeding 1.62 million tonnes (mtpa) as of 2023, Alba stands as a world leader in aluminium smelting. Celebrating a 50-year legacy, the company is renowned for its operational excellence, commitment to safety, environmental stewardship, and contributions to community development.
Ma'aden, Saudi Arabia's premier mining company, has reached an agreement to acquire SABIC's 20.62 per cent stake in Aluminium Bahrain (ALBA). This acquisition reflects Ma'aden's ongoing commitment to regional expansion and aligns with its ambitious goal of achieving tenfold growth by 2040.
Responses
