March 2 (Reuters) - Bahrain-based industrial group Alba has entered exclusive talks with U.S. fund AIP to acquire Europe's largest smelter Aluminium Dunkerque, the companies said on Monday, in what
Bahrain's Alba Seeks Full Acquisition of Aluminium Dunkerque from AIP
Alba's Acquisition Plans and Deal Structure
Exclusive Negotiations and Strategic Intent
March 2 (Reuters) - Bahrain-based industrial group Alba has entered exclusive talks with U.S. fund AIP to acquire Europe's largest smelter Aluminium Dunkerque, the companies said on Monday, in what would be one of the Bahrain's biggest corporate deals.
Alba said it aims to buy all shares of Aluminium Dunkerque, while preserving personnel numbers and strengthening low-emission production, it said in the joint statement.
Valuation and Financing
The company was valued north of 1 billion euros ($1.17 billion), one person with knowledge of the matter said.
The deal will be paid in cash, with funding fully underwritten by a syndicate of relationship banks, the companies said.
Potential Stakeholders
In addition, Alba said France's state-owned investment bank Bpifrance may also take a stake in the company.
Key Details of the Proposed Deal
Transaction Highlights
Acquisition Price and Production Capacity
- The price of the potential acquisition has not been disclosed.
- Aluminium Dunkerque produces roughly 300,000 metric tons of aluminium per year.
Regulatory Approvals and Timeline
- The deal must be approved by the French state and the European Commission, as part of a foreign investment control procedure.
- The transaction is expected to be finalised in 2026.
Currency Exchange Rates
($1 = 0.8537 euros)
($1 = 0.8564 euros)
Reporting and Editorial Credits
(Reporting by Mateusz Rabiega and Federico Maccioni. Writing by Anousha Sakoui Editing by Tomasz Janowski)
