Saudi's Maaden to Exchange Aluminum Units for Shares in Bahrain's Alba

The deal aims to create one of the world's largest aluminum producers and includes a cross-listing on the Saudi stock exchange.

Saudi Arabian Mining Co. (Maaden) plans to sell its aluminum subsidiaries to Aluminium Bahrain B.S.C. (Alba) in exchange for new Alba shares.
The agreement includes Maaden Aluminium Co. and Maaden Bauxite and Alumina Co., and is pending regulatory approvals.
Maaden and Alba will seek a cross-listing of Alba shares on the Saudi stock exchange as part of the deal.
The expanded company would become one of the largest aluminum producers globally, enhancing supply reliability amid geopolitical disruptions.
This move follows Maaden's $1.1 billion acquisition of Alcoa Corp.'s stake in a joint bauxite and aluminum venture.