Saudi Arabian Mining Company (Ma'aden) has acquired a 20.6% stake from Saudi Basic Industries (Sabic) in Aluminium Bahrain BSC (Alba) after receiving regulatory approvals, becoming its new strategic shareholder.

The US$1 billion acquisition, with a financial consideration of around SAR 3.62 billion, strengthens Alba’s global aluminum leadership, with Bahrain Mumtalakat Holding Company and Ma’aden as key shareholders, improving the company’s future growth.