The SICO SAB (M.) announced the pioneering regional bank in the field of asset management, mediation and investment banking services, which has a direct presence in Bahrain, Saudi Arabia and the United Arab Emirates for the successful completion of its role as the implementation agent and mediator on behalf of the two parties to Maaden, and the SABIC Investment Company Industrial, as part of a strategic deal to acquire 292,804,000 shares At Alba Company, at a value of 363,076,960 dinars (equivalent to 3,611,504,737 Saudi riyals), where Maaden Company acquired the entire stake of SABIC Industrial Investment Company of 20.6% in Alba Company, to become the second largest contributor to Maaden, the largest shareholder in Alba Company. It is worth noting that the minerals of a company listed in the Saudi stock market (“Tadawul”) is the largest mining company in the Kingdom of Saudi Arabia, while the SABIC Industrial Investment Company is a subsidiary fully owned by the Saudi Basic Industries Company (“SABIC”), one of the largest international companies Leadership in the field of petrochemical industry and is included in trading.
Seko has implemented the deal through the private request market on the Bahrain Stock Exchange, where it provided integrated advisory services, in addition to mediation services. Where Siko played its role, including coordination with the Legal Affairs team and organizational bodies, including the Bahrain Central Bank, Bahrain Stock Exchange and the Bahrain Clearing Company, ensuring the implementation of the deal smoothly.
In this regard, she said Mrs. Naglaa Al -Shirawi, CEO of Siko: “We are pleased to announce the implementation of this strategic deal successfully, which constitutes a prominent sign that enhances the status of Seko as a trusted financial partner in the region. This achievement does not reflect our commitment to providing exceptional financial services, but also reflects the confidence that our customers give us. If their dear trust is shedding Highlight our strong executive capabilities and our installed ability to facilitate complex and high -value transactions accurately Efficient. “
“While we are in a financial market characterized by increasing competition, our commitment to excellence remains fixed. This deal represents our strategic vision and our continuous endeavor towards innovation, which puts us in a better location to serve the needs of our diverse customers. We are proud to form a team of experienced professionals who are able to overcome the complexities of markets Finance, which guarantees that we meet and exceed the expectations of our customers Constantly.
“This is looking for the opportunities that this deal will provide, not only for Siko but also for our customers and relationship with, we are ready to enhance our role as a leading financial partner in the region, which achieves growth and creates value to all parties concerned.”
For his part, he added Mr. Wissam Haddad, Head of Investment Banking Services for the Siko Group: “This acquisition is an essential step within the vision of Maaden, which is aimed at expanding its activity in aluminum work, and we are happy to contribute to completing this deal, as we are proud of Siko to provide consulting services designed according to the special needs of customers, as well as its ability to implement deals with high efficiency that is in line with the strategic goals of our customers Our firm presence and strategic presence through our financial company Siko in Riyadh, In addition to our deep relations in the region, it has contributed a tangible role in ensuring the implementation and success of this deal. ”
This deal is a tangible achievement of the strategy of Maaden, which aims to enhance its activity in aluminum work, in order to support its aspirations for growth by ten times by 2040. The BA- is listed on the Bahrain Stock Exchange with a market value of about 1.5 billion Bahraini dinars- is one of the largest aluminum producers. In the region, it also has a leading global competitive position.
