Logos ofSaudi Arabian Mining Company (Maaden) andAluminium Bahrain B.S.C. (Alba)
Saudi Arabian Mining Company (Maaden)agreed with Aluminium Bahrain (Alba) to terminate discussions on the proposed deal, the company said in a statement to Tadawul today, Jan. 13. 
The proposed deal involved Maaden subscribing to new shares in Alba in exchange for an in-kind contribution. This contribution included the entire capital of Maaden Aluminium Co. (MAC) and Maaden Bauxite and Alumina Co.(MBAC), as well as the contractual rights related to the marketing and sale of products produced by Maaden.
For more news and details on MAs
The mining major stated that the two companies signed an agreement to terminate the term sheet immediately.
According to data available with Argaam, Maaden signed, in September 2024, a share purchase agreement (SPA) for the acquisition of the entire shareholding of SABIC Industrial Investments Co., a wholly owned subsidiary of Saudi Basic Industries Corp. (SABIC), in Alba.
The move aimed at enabling Maaden to acquire the seller’s entire stake in Alba, comprising 292.8 million ordinary shares, representing 20.62% of Alba’s capital.
Pursuant to the SPA, the consideration for the acquisition will consist of an amount paid in cash by Maaden to the seller in the range of BHD 363.08 million to BHD 398.2 million (nearly SAR 3.62-SAR 3.97 billion). The agreed-upon amount will be determined in accordance with the mechanism specified in the SPA.
Maaden recently extended the validity period of the term sheet with Alba, which required the parties to finalize a binding agreement related to the proposed deal from Dec. 31, 2024, to April 30, 2025.
Logos ofSaudi Arabian Mining Company (Maaden) andAluminium Bahrain B.S.C. (Alba)
Saudi Arabian Mining Company (Maaden)agreed with Aluminium Bahrain (Alba) to terminate discussions on the proposed deal, the company said in a statement to Tadawul today, Jan. 13.
The proposed deal involved Maaden subscribing to new shares in Alba in exchange for an in-kind contribution. This contribution included the entire capital of Maaden Aluminium Co. (MAC) and Maaden Bauxite and Alumina Co.(MBAC), as well as the contractual rights related to the marketing and sale of products produced by Maaden.
For more news and details on MAs
The mining major stated that the two companies signed an agreement to terminate the term sheet immediately.
According to data available with Argaam, Maaden signed, in September 2024, a share purchase agreement (SPA) for the acquisition of the entire shareholding of SABIC Industrial Investments Co., a wholly owned subsidiary of Saudi Basic Industries Corp. (SABIC), in Alba.
The move aimed at enabling Maaden to acquire the seller’s entire stake in Alba, comprising 292.8 million ordinary shares, representing 20.62% of Alba’s capital.
Pursuant to the SPA, the consideration for the acquisition will consist of an amount paid in cash by Maaden to the seller in the range of BHD 363.08 million to BHD 398.2 million (nearly SAR 3.62-SAR 3.97 billion). The agreed-upon amount will be determined in accordance with the mechanism specified in the SPA.
Maaden recently extended the validity period of the term sheet with Alba, which required the parties to finalize a binding agreement related to the proposed deal from Dec. 31, 2024, to April 30, 2025.
