The deal, which is the aluminium producer’s first major acquisition since its formation in 2014, is expected to close during the first half of 2024
The company expects its full-year sales volume to be in line with 2022 even as prices have declined over the last 12 months
The company paid its shareholders a total of Dhs3.7bn consisting of an interim dividend of Dhs2.2bn in July and a further D1.5bn at the end of 2022
EGA is the Middle East’s biggest aluminium producer and is equally owned by Mubadala and Investment Corporation of Dubai
The aluminium extrusion company is located in Dubai Industrial City
This solar-powered aluminium will be supplied to global customers under the new product name of CelestiAL
Two from the UAE and one from Bahrain feature on the list of the world’s largest smelters by capacity.