White & Case Advises Alcoa on $1.1 Billion Sale of Stake in Saudi Joint Venture

Global law firm White & Case has advised Alcoa Corporation on the sale of its entire 25.1% stake in a joint venture with the Saudi Arabian Mining Company (Ma'aden) for approximately $1.1 billion. The joint venture, established in 2009, is a fully integrated mining complex located in Saudi Arabia. It includes the Ma'aden Bauxite and Alumina Company (MBAC) and the Ma'aden Aluminium Company (MAC). Ma'aden, which already holds 74.9% of the venture, will assume full ownership following the transaction.

The transaction involves a combination of cash and shares in Ma'aden, which is listed on the Saudi stock exchange, Tadawul. White & Case led the legal advisory for the sale, with a team headed by partner David Lewis and including several other partners and associates based in London, Dubai, and Riyadh.