M&A - Alcoa Corp

Form Type: 8-K

Filing Date: 2025-07-01

Corporate Action: Acquisition

Type: New

Accession Number: 000095017025092214

Filing Summary: On July 1, 2025, Alcoa Corporation announced the closing of its sale of a 25.1% ownership interest in the Ma’aden joint venture to Saudi Arabian Mining Company (Ma’aden). The transaction was executed pursuant to a binding share purchase and subscription agreement. Alcoa received 86 million shares of Ma’aden, valued at approximately $1.2 billion, along with $150 million in cash, which will primarily be allocated for related taxes and transaction costs. The company anticipates recording a gain of about $780 million in other income for the third quarter of 2025. As per the terms of the agreement, Alcoa must hold the Ma’aden shares for a minimum of three years, with the option to sell one-third of the shares on the anniversaries of the transaction's closing after the third, fourth, and fifth years. During the holding period, Alcoa can hedge and borrow against the shares under specific conditions, though the holding period may be reduced in certain circumstances.