Alcoa Corporation announced the successful closing of its sale of a 25.1% ownership interest in the Ma'aden Joint Venture to the Saudi Arabian Mining Company. The transaction, valued at approximately $1.35 billion, involved Alcoa receiving proceeds in Ma'aden shares and cash, with Alcoa expected to record a gain of approximately $780 million in other income. Alcoa will retain approximately 2% of Ma'aden's shares following the transaction.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Alcoa Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 20250701444443) on July 01, 2025, and is solely responsible for the information contained therein.