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Alcoa | 8-K: Entry into Subscription Agreements

Alcoa | 8-K: Entry into Subscription Agreements

美国铝业公司 | 8-K:签订认购协议
美股SEC公告 ·  2024/09/16 08:31

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Alcoa has entered into an agreement to sell its 25.1% ownership stake in the Ma'aden Joint Venture to Saudi Arabian Mining Company (Ma'aden) for approximately $1.1 billion. The transaction consideration includes 86 million Ma'aden shares valued at $950 million and $150 million in cash. The carrying value of Alcoa's investment was $545 million as of June 30, 2024.Under the agreement terms, Alcoa will hold the Ma'aden shares for a minimum of three years, with one-third becoming transferable after each of the third, fourth, and fifth anniversaries of closing. During this holding period, Alcoa will be permitted to hedge and borrow against these shares. Post-transaction, Alcoa would own approximately 2% of Ma'aden's current shares outstanding.The transaction, which simplifies Alcoa's portfolio and enhances investment visibility in Saudi Arabia, is subject to regulatory approvals and Ma'aden's shareholder approval. The deal is expected to close in the first half of 2025. The joint venture, established in 2009, comprises the Ma'aden Bauxite and Alumina Company and the Ma'aden Aluminium Company.
Alcoa has entered into an agreement to sell its 25.1% ownership stake in the Ma'aden Joint Venture to Saudi Arabian Mining Company (Ma'aden) for approximately $1.1 billion. The transaction consideration includes 86 million Ma'aden shares valued at $950 million and $150 million in cash. The carrying value of Alcoa's investment was $545 million as of June 30, 2024.Under the agreement terms, Alcoa will hold the Ma'aden shares for a minimum of three years, with one-third becoming transferable after each of the third, fourth, and fifth anniversaries of closing. During this holding period, Alcoa will be permitted to hedge and borrow against these shares. Post-transaction, Alcoa would own approximately 2% of Ma'aden's current shares outstanding.The transaction, which simplifies Alcoa's portfolio and enhances investment visibility in Saudi Arabia, is subject to regulatory approvals and Ma'aden's shareholder approval. The deal is expected to close in the first half of 2025. The joint venture, established in 2009, comprises the Ma'aden Bauxite and Alumina Company and the Ma'aden Aluminium Company.
美国铝业公司已经与沙特阿拉伯矿业公司(Ma'aden)达成协议,出售其在Ma'aden创业公司中的25.1%股权,交易金额约为11亿美金。交易考虑包括价值95000万的8600万股Ma'aden股份和15000万现金。截至2024年6月30日,美国铝业公司的投资账面值为54500万。根据协议条款,美国铝业公司将至少持有Ma'aden股份三年,每个第三、第四和第五个周年时,一亩可转让三分之一。在此持有期间,美国铝业公司可以对这些股份进行对冲和借贷。交易后,美国铝业公司将持有约2%的Ma'aden当前已流通股份。该交易简化了美国铝业公司的投资组合,并提高了在沙特阿拉伯的投资可见性,需获得监管批准和Ma'aden股东批准。该交易预计将于2025年上半年完成。该创业公司成立于2009年,包括Ma'aden铝土矿和铝业公司。
美国铝业公司已经与沙特阿拉伯矿业公司(Ma'aden)达成协议,出售其在Ma'aden创业公司中的25.1%股权,交易金额约为11亿美金。交易考虑包括价值95000万的8600万股Ma'aden股份和15000万现金。截至2024年6月30日,美国铝业公司的投资账面值为54500万。根据协议条款,美国铝业公司将至少持有Ma'aden股份三年,每个第三、第四和第五个周年时,一亩可转让三分之一。在此持有期间,美国铝业公司可以对这些股份进行对冲和借贷。交易后,美国铝业公司将持有约2%的Ma'aden当前已流通股份。该交易简化了美国铝业公司的投资组合,并提高了在沙特阿拉伯的投资可见性,需获得监管批准和Ma'aden股东批准。该交易预计将于2025年上半年完成。该创业公司成立于2009年,包括Ma'aden铝土矿和铝业公司。
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