Alcoa to sell 25.1% Ma'aden JV stake for ~$1.1B in shares and cash

Alcoa Corp

Total consideration: ~86M Ma'aden shares (valued at $950M) plus $150M cash, totaling ~$1.1B.
Carrying value of Alcoa's investment was $545M as of June 30, 2024; transaction expected to close H1 2025.
Alcoa must hold Ma'aden shares for minimum 3 years, with one-third transferable after 3rd, 4th, and 5th anniversaries.
Closing subject to regulatory approvals and Ma'aden shareholder approval; pro forma Alcoa would own ~2% of Ma'aden.

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