Alba evaluates benefits of potential merger with Maaden

The firm emphasized that reaching a final agreement or signing a binding deal is not guaranteed and primarily depends on the outcomes of the study and evaluation process.

Alba also noted that it will regularly provide updates on the matter to ensure compliance with relevant laws and regulations.

In September, Maaden signed a share purchase agreement (SPA) for the acquisition of the entire 20.62% shareholding of SABIC Industrial Investments Co., a wholly owned subsidiary of Saudi Basic Industries Corp. (SABIC), in Alba, according to data available with Argaam.

Pursuant to the SPA, the consideration for the acquisition will consist of an amount paid in cash by Maaden to the seller and will be within a range of BHD 363.08 million (equivalent to about SAR 3.623 billion) to BHD 398.2 million (or about SAR 3.974 billion). The agreed-upon amount will be determined in accordance with the mechanism specified in the SPA.

In October, Alba announced appointing several advisors to oversee and guide the due diligence process as it evaluates a potential merger with Maaden.