Category: Maaden
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Alcoa to sell its 25.1% stake in Ma’aden joint venture for $1.1 billion By Reuters
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(Reuters) – U.S. aluminum company Alcoa Saudi Aramco (NYSE:) said on Sunday it will sell a 25.1% stake in its joint venture with Saudi Arabian Mining Co. (Maaden) for $1.1 billion. Alcoa said in a statement that the deal includes approximately 86 million Maaden shares and $150 million in cash,…
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Alcoa to sell its 25.1% stake in Ma’aden JV for $1.1B (NYSE:AA)
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JHVEPHOTO/Istock is an editorial via Getty Images 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…