Alcoa shares are trading higher after the company agreed to sell its 25.1% joint venture stake in Ma'aden for $1.1 billion, including $950 million in Ma'aden shares.
Portfolio Pulse from Benzinga Newsdesk
Alcoa's stock is rising following its agreement to sell a 25.1% joint venture stake in Ma'aden for $1.1 billion, which includes $950 million in Ma'aden shares.
September 16, 2024 | 11:54 am
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POSITIVE IMPACT
Alcoa's decision to sell its 25.1% joint venture stake in Ma'aden for $1.1 billion, including $950 million in Ma'aden shares, has positively impacted its stock price.
The sale of the joint venture stake provides Alcoa with significant liquidity and a strategic shift, which is viewed positively by investors, leading to a rise in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100