Alba plans to buy a French aluminum smelter in a deal worth $2.2 billion.

PARIS, June 2 (Reuters) - Aluminium Bahrain (Alba) said on Tuesday it had agreed to acquire Aluminium Dunkirk, the European Union's largest aluminum smelter, in a deal valued at around $2.2 billion.

This deal will give Alba full ownership of the French aluminum smelter located near Dunkirk. Meanwhile, the French state-backed investment bank Bpifrance is set to acquire a 6% stake for €100 million ($116.5 million).

Alba said the acquisition "will be fully financed through a consortium of Alba's partner banks."

BPI France will get a seat on the board of directors of the Dunkirk Aluminium Holding Company.

The Dunkirk aluminum smelter produces approximately 300,000 tons of aluminum annually.

The agreement was revealed alongside a memorandum of understanding with BPI France signed in Paris on the sidelines of the Choose France conference.

Alba entered into exclusive negotiations earlier this year to acquire the smelter from the American investment fund (American Industrial Partners).

(US$1 = €0.8587)


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.