Reported Sunday, Alcoa Agrees To $1.1B Sale Of Ma'aden 25.1% Joint Venture Stake, Including $950M In Ma'aden Shares
Portfolio Pulse from Benzinga Newsdesk
Alcoa has agreed to sell its 25.1% stake in a joint venture with Ma'aden for $1.1 billion, including $950 million in Ma'aden shares. This transaction will simplify Alcoa's portfolio in Saudi Arabia and provide greater financial flexibility.
September 16, 2024 | 6:52 am
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Alcoa has agreed to sell its 25.1% stake in a joint venture with Ma'aden for $1.1 billion, including $950 million in Ma'aden shares. This transaction will simplify Alcoa's portfolio in Saudi Arabia and provide greater financial flexibility.
The sale of the joint venture stake for $1.1 billion, including $950 million in shares, will provide Alcoa with increased financial flexibility and a simplified portfolio. This is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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