US Market
The company that holds the Jamalco alumina refinery is being transferred to an undisclosed third party, as part of an emerging deal.
The refinery is majority owned by Noble Group Holding Limited, NGHL, which is based in Hong Kong.
“NGHL has announced that it has entered into a call option deed to transfer its entire ownership of General Alumina Holdings Limited (GAH), through which NGHL holds its 55 per cent stake in Jamalco, to a third party,” Noble said in a press release.
The impact on plans by the Jamaican Government, the minority owner with 45 per cent interest, to privatise Jamalco and list it on the Jamaica Stock Exchange wasn’t immediately clear. The Government has made no statement regarding Noble’s disclosure.
Since early 2022, NGHL directors have extensively “tested” the market for potential acquirers for its 55 per cent stake in Jamalco, as well as assessing other transaction alternatives, Noble said.