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20/02/2025 07:38 AST
Saudi Basic Industries Corporation (SABIC) has announced the completion of the regulatory process to sell its 20.62% shareholding in Aluminum Bahrain (Alba) to the Saudi Arabian Mining Company (Ma'aden), with a financial consideration of BHD363,076,960 ($963.52 million).
The completion of the transaction enhances SABIC's position and reinforces its strategy to become the preferred world leader in chemicals by focusing on high performance, operational excellence, business sustainability, and on playing a leading role both in the petrochemical industry and relevant industries, the company said.
Abdulrahman Al-Fageeh, SABIC CEO, said: "With this transaction, we are in a better position to enhance our portfolio, focus on core businesses and strengthen our sustainable growth. It further enables us to optimize capital reallocation and invest in opportunities with higher margins, which improves total returns to shareholders and supports the successful realization of Saudi Vision 2030."
He added: "We greatly value our fruitful partnership with Alba, which has contributed significantly to the growth of SABIC's business over the years, a partnership that has driven the development of this sector, by contributing to the GDP and creating specialized manufacturing industries in this field."
Trade Arabia
07/05/2025
Saudi Basic Industries Corporation (SABIC), one of the world's largest petrochemical companies, reported a net loss of 1.21 billion riyals ($322.6 million) for the first quarter of 2025, reflecting c
Asharq Al Awsat
06/05/2025
SABIC, a global leader in chemicals, reported a net loss of SAR1.2 billion ($320 million) for the first quarter of 2025, representing a 36% improvement compared to a net loss of SAR1.9 billion in the
Trade Arabia
05/05/2025
SABIC announced on Sunday a net loss of SR1.2 billion for the first quarter of 2025 - a 36% improvement from the SR1.9 billion loss recorded in the previous quarter, driven by one-time restructuring
Saudi Gazette
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MAADEN | 54.70 | 1.30 (2.43 |
| SABICAGRINUTRIENTS | 110.20 | 1.70 (1.56 |
| LIMEINDUSTRIES | 13.60 | 0.20 (1.49 |
| APICO | 36.92 | -1.64 (-4.26 |
| LUBEREF | 103.60 | -0.50 (-0.49 |
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Gulfnews
07/07/2025
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Kuwait Times
07/07/2025
The Abu Dhabi based taxi and fleet operator Mwasalat Holding has sold a sizable 22.5% stake to Emirates Driving Company.
Mwasalat generated over Dh650 million in revenues in 2024, and apart
Gulfnews
07/07/2025
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Gulf Times
07/07/2025
In a step that reflects a shared commitment to fostering innovation and driving impact, "Elm" Company and "One" Group for Communications and Marketing have signed a Memorandum of Understanding (MoU)
Saudi Gazette
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