Logo ofSaudi Basic Industries Corp. (SABIC)
Saudi Basic Industries Corp.’s (SABIC) shareholders approved, in an ordinary general meeting (OGM) held on April 9, the business and contracts under which SABIC Industrial Investments Co., a SABIC affiliate, sold its stake in Alba Co., equaling 292.8 million common shares representing 20.62% of Alba’s total shareholding to Saudi Arabian Mining Co. (Maaden) for BHD 363.08 million (approximately SAR 3.61 billion), without any preferential terms. 
The deal is a related party transaction as the board’s Vice Chairman, Mohammed Al-Qahtani, has indirect interest for being also a member of Maaden board.
For more news and details on MAs
In a statement to Tadawul, the company said that shareholders also authorized the board of directors to distribute interim cash dividend for 2025 on a semi-annual or quarterly basis.
Meanwhile, they elected board members for the new three-year board term starting on April 10, 2025.
The newly elected board includes, Khalid Al-Dabbagh, Mohammed Al-Qahtani, Abdulrahman Al-Fageeh, Ziad Almurshed, Faisal Al-Faqeer, Yousef Alzamel, Lucrèce Foufopoulos – De Ridder, Mohammed Al-Subaie and Ramesh Ramachandran.
According to data compiled by Argaam, SABIC and Maaden announced in February the completion of the regulatory process by Maaden to acquire the entire stake of SABIC Industrial Investments Co., a wholly owned subsidiary of SABIC, in Aluminum Bahrain (Alba).
Logo ofSaudi Basic Industries Corp. (SABIC)
Saudi Basic Industries Corp.’s (SABIC) shareholders approved, in an ordinary general meeting (OGM) held on April 9, the business and contracts under which SABIC Industrial Investments Co., a SABIC affiliate, sold its stake in Alba Co., equaling 292.8 million common shares representing 20.62% of Alba’s total shareholding to Saudi Arabian Mining Co. (Maaden) for BHD 363.08 million (approximately SAR 3.61 billion), without any preferential terms.
The deal is a related party transaction as the board’s Vice Chairman, Mohammed Al-Qahtani, has indirect interest for being also a member of Maaden board.
For more news and details on MAs
In a statement to Tadawul, the company said that shareholders also authorized the board of directors to distribute interim cash dividend for 2025 on a semi-annual or quarterly basis.
Meanwhile, they elected board members for the new three-year board term starting on April 10, 2025.
The newly elected board includes, Khalid Al-Dabbagh, Mohammed Al-Qahtani, Abdulrahman Al-Fageeh, Ziad Almurshed, Faisal Al-Faqeer, Yousef Alzamel, Lucrèce Foufopoulos – De Ridder, Mohammed Al-Subaie and Ramesh Ramachandran.
According to data compiled by Argaam, SABIC and Maaden announced in February the completion of the regulatory process by Maaden to acquire the entire stake of SABIC Industrial Investments Co., a wholly owned subsidiary of SABIC, in Aluminum Bahrain (Alba).
