Alba nears $2.2B acquisition of EU’s largest aluminium smelter, Aluminium Dunkerque

Stock image for referential purposes only

Aluminium Bahrain (Alba) is expected to acquire Aluminium Dunkerque, the EU’s largest primary aluminium smelter, in a USD 2.2 billion deal, subject to EU FSR clearance and other regulatory approvals

The deal will mark a significant step in Alba’s strategy to build a global low-carbon aluminium platform. The transaction was announced jointly with American Industrial Partners, the current owner of Aluminium Dunkerque, and Bpifrance, which will acquire a minority stake in the company alongside Alba.

The Memorandum of Understanding (MoU) between Alba and Bpifrance was signed in Paris during the Choose France Summit in the presence of His Excellency Shaikh Salman bin Khalifa Al Khalifa, Bahrain’s Minister of Finance and National Economy and Chairman of Mumtalakat Holding Company, and Nicolas Forissier, France’s Minister Delegate for Foreign Trade and Economic Attractiveness.

The signing ceremony was attended by Khalid Amro Al-Rumaihi, Chairman of Alba’s Board of Directors; Dino Cusumano, Managing Partner at American Industrial Partners; and José Gonzalo, Executive Director of Capital Development at Bpifrance.

Explore: The most comprehensive and forward-looking industry-focused report – Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook

Upon completion of the transaction, Alba will acquire 100 per cent of Aluminium Dunkerque through financing arranged by a consortium of Alba’s banking partners. Under the MoU, Bpifrance will invest EUR 100 million in the transaction for a 6 per cent ownership stake in Aluminium Dunkerque, subject to customary approvals. Bpifrance will also hold a seat on the Board of Directors of the smelter’s holding company.

The involvement of Bpifrance as a minority shareholder and board member is expected to strengthen Aluminium Dunkerque’s position in the region and underlines the strategic importance of the company within France’s aluminium industry.

Nicolas Dufourcq, CEO at Bpifrance, said, "Alongside Alba, Bpifrance's investment in Aluminium Dunkerque underscores our commitment to securing and reinforcing the long-term future of this strategic industrial site. By joining forces, we are not only supporting the growth of a key player in the European aluminium sector but also ensuring that Aluminium Dunkerque remains a cornerstone of France's industrial resilience and innovation. Together, we will work to strengthen the site's industrial project, fostering sustainable development and competitiveness for years to come."

The smelter is located in Loon-Plage in the Dunkerque region, and produces around 300,000 tonnes of aluminium annually. The smelter operates with advanced automation, integrated production capabilities and a skilled workforce, positioning it to benefit from growing European demand for sustainably produced aluminium.

Explore our e-magazine ALuminium LeaderSpeak 2026 for the latest industry insights and trends