Saudi Arabian Mining Company (Maaden) has announced the transfer of Alcoa’s interests in its aluminum joint venture companies (Maaden Aluminum Company, Maaden Rolling Company and Maaden Bauxite and Alumina Company) to Alcoa Corporation. Alcoa Corporation is a new entity that was formed after being separated from its mother company Alcoa. Alcoa is currently divided into two companies: i) Alcoa Corporation (Maaden’s new partner); and ii) Arconic. The transaction was a strategic move for Alcoa, with the purpose of separating the company’s upstream and downstream activities. The transaction was completed on 1 November, 2016. Alcoa Corporation, will operate in bauxite, alumina, energy, aluminum and can sheet in North America, while Arconic will operate in high value-added material products globally. It is worth noting that Maaden aluminium companies are 74.9%-owned by Maaden and 25.1%-owned by Alcoa Corporation. (Company disclosure, WSJ)   Maaden: SAR38.97 as of 01 November 2016, Rating: Neutral, FV: SAR30.00 per share, MCap: USD12,143mn, MAADEN AB / 1211.SE