Alcoa to sell its 25.1% stake in Ma’aden JV for $1.1B (NYSE:AA)

Sign of Alcoa and Arconic on the building in Pittsburgh, Pennsylvania, USA. Alcoa Corporation is an American industrial corporation.

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  • Alcoa (New York:AASaudi Electricity Company said on Sunday that it has entered into a binding agreement to purchase shares and subscribe with Saudi Arabian Mining Company (“Maaden”).
  • Under the agreement, Saudi Aramco will sell its entire 25.1% stake in the Maaden joint venture to Maaden for approximately $1.1 billion.

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