Alcoa Sells 25.1% Stake in Ma’aden Joint Venture for AU$1.1 Billion

Alcoa Corporation (ASX: AAI) has agreed to sell its 25.1% stake in the Ma’aden Joint Venture to Saudi Arabian Mining Company (Ma’aden) for about AU$1.1 billion. The deal includes around 86 million Ma’aden shares worth AU$950 million and AU$150 million in cash. Established in 2009, the joint venture comprises Ma’aden Bauxite and Alumina Company and Ma’aden Aluminium Company. This sale aims to streamline Alcoa's portfolio and enhance financial flexibility. Alcoa will hold the shares for a minimum of three years, with staggered transferability starting in the third year. The transaction awaits regulatory and shareholder approvals and is expected to complete in the first half of 2025.

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