Alcoa Sells Ma'aden JV Stake For $1.35 Bln

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(RTTNews) - Alcoa Corporation (AA) has finalized the sale of its 25.1% ownership in the Ma'aden Joint Venture to Saudi Arabian Mining Company - Ma'aden for approximately $1.2 billion in Ma'aden shares and $150 million in cash.

The transaction is expected to generate a $780 million gain in Alcoa's Q3 2025 financials, classified as a special item.

As part of the agreement, Alcoa must retain the Ma'aden shares for a minimum of three years, with the option to sell one-third each year starting from the third anniversary. The company may hedge or borrow against the shares under certain conditions and currently holds around 2% of Ma'aden's outstanding shares.

Alcoa CEO William F. Oplinger thanked Ma'aden and Saudi Arabia for 16 years of partnership and noted that the sale delivers immediate shareholder value while preserving future monetization opportunities. The Ma'aden Joint Venture, established in 2009, consisted of a bauxite mine, alumina refinery, smelter, and casthouse. Citi served as Alcoa's exclusive financial advisor, with legal counsel from White & Case LLP.

Wednesday, AA closed at $30.20, up 2.34%, and was trading at $30.35 in after-hours, up an additional 0.50% on the NYSE.