All shares in Guinea firm acquired

01 August 2013

DUBAI Aluminium (Dubal) and Mubadala Development Company (Mubadala) have secured full ownership of Guinea Alumina Corporation (GAC), having completed the acquisition of the remaining project interests in the joint venture from Global Alumina Corporation and BHP Billiton.

This follows the recent announcement of the creation of Emirates Global Aluminium (EGA), which will become the world’s fifth largest aluminium company through integrating the businesses of Dubal and Emirates Aluminium (Emal).  The GAC acquisition also underscores EGA’s plans for significant local and international expansion.

Established and owned by the Government of Abu Dhabi, Mubadala Development Company has a strategy that is built on the creation of partnerships and on long-term, capital-intensive investments which deliver strong financial returns and tangible social benefits for the Emirate of Abu Dhabi, and which  contribute to the growth and diversification of its economy.

Mubadala brings together and manages a multi-billion-dollar portfolio of local, regional and international investments and partners with leading global organisations to operate businesses across a wide range of industry sectors. These include aerospace, semiconductors, metals and mining, oil and gas, renewables, information communications and technology, healthcare, real estate and infrastructure, and services. Amongst its metals interests, Mubadala owns 50 per cent of Emirates Aluminium at Al Taweelah, Abu Dhabi.

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