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Aluminium Bahrain B.S.C. (Alba), operator of one of the world’s largest aluminium smelters, has agreed to acquire France-based Aluminium Dunkerque in a deal valued at about $2.2 billion, three months after declaring force majeure on shipments due to restrictions on vessels transiting the Strait of Hormuz amid the Iran war.
The transaction was announced jointly with American Industrial Partners, the current owner of Aluminium Dunkerque, and Bpifrance, the French public investment bank, which will take a minority stake alongside Alba.
Alba will acquire 100% of Aluminium Dunkerque, with the purchase fully financed by a consortium of Alba’s banking partners.
A separate memorandum of understanding provides for Bpifrance to invest €100 million in the transaction, representing a 6% stake, subject to customary approvals. Bpifrance will also secure a seat on the board of the smelter’s holding company.
Located in Loon-Plage in the Dunkerque region, the facility produces roughly 300,000 tonnes of aluminium annually. The plant’s advanced automation and integrated operations position it to benefit from rising European demand for low-carbon aluminium.
Alba said the acquisition forms part of its strategy to build a global low-carbon aluminium platform.
In May, Alba said sales volumes fell by 17% year on year in the first quarter to 312,563 metric tons amid the war. With prices soaring due to key smelters in the region being hit by military strikes, Alba notched up a 316% jump in Q1 2026 net profit.
(Writing by Brinda Darasha; editing by Seban Scaria)
