Bahrain’s Aluminium Bahrain (Alba) is one of the largest aluminum smelters globally. The company is strategically aiming to expand into the European market through mergers and acquisitions. After a significant agreement with the Saudi Arabian Mining Company (Maaden), Alba is exploring new opportunities across Europe. These opportunities will enhance its global presence and meet the continent’s growing demand for sustainable aluminum.
Finalization of Maaden-Alba Deal Expected by Mid-2025
The landmark agreement with Maaden was initially formalized through a non-binding memorandum in September. It is anticipated to be officially completed in the first half of 2025. This deal involves Maaden divesting its stakes in Maaden Aluminium Co. and Maaden Bauxite and Alumina Co. to Alba, in exchange for newly issued shares in Alba.
The agreement is contingent upon a thorough due diligence process and regulatory approval from both Bahrain and Saudi Arabia. It ensures that the merger aligns with the strategic objectives of both companies and adheres to the governance standards of each nation.
Alba’s Future Listing on the Saudi Stock Exchange
As part of the agreement, Alba’s shares—currently traded on the Bahrain stock exchange—will also be listed on Saudi Arabia’s Tadawul. It will mark Alba’s entry into a foreign stock market. This move increased Maaden’s 20.6 percent stake in Alba (acquired from Saudi Basic Industries Corp. or SABIC for around $1 billion). It will enhance Alba’s visibility and investor access in the Gulf Cooperation Council (GCC) region, solidifying its status as a key player in the Middle Eastern aluminum sector.
Aluminum: A Critical Resource for Growing Industries
Aluminium is experiencing high global demand. It has uses ranging from beverage cans to construction materials, and notably, electric vehicle (EV) batteries. As the world transitions towards greener technologies, the need for lightweight and durable aluminum continues to rise.
