"The United Arab Emirates is merging its two flagship state aluminum firms to create the world's fifth largest aluminum company with an enterprise value of $15 billion.
The merger will improve efficiency and help the emirate's aluminum industry better compete with rivals in the region. UAE has been planning the move for three years.
The new entity, Emirates Global Aluminium, will be jointly held by Dubai Aluminium (Dubal) and Emirates Aluminium (Emal). Dubal is owned by the Investment Corporation of Dubai (ICD,) while Emal is a joint venture between Abu Dhabi state sovereign fund Mubadala and ICD."
'via Blog this'
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