Reported 24 days ago
Alcoa has announced a sale of its 25.1% stake in the Ma'aden joint venture to Saudi Arabian mining company Ma'aden for $1.1 billion, which includes 86 million shares and $150 million in cash. This move, expected to close in the first half of 2025, aims to simplify Alcoa's portfolio and enhance financial flexibility while maintaining a minor stake in Ma'aden.
Source: YAHOO