Emirates Global Aluminium is evaluating the purchase of the Brazilian company CBA, controlled by Votorantim.

247 - Emirates Global Aluminium (EGA), one of the world's largest aluminum producers, is considering acquiring Companhia Brasileira de Alumínio (CBA), a company controlled by the Brazilian group Votorantim. This information was released by... Brazil Stock Guide based on sources from the agency ReutersAccording to reports, EGA hired Morgan Stanley as a financial advisor to evaluate the deal.

The potential acquisition of CBA is part of EGA's global strategy to expand its presence in emerging markets and consolidate its role in the production of sustainable metals. The company, owned by Abu Dhabi's Mubadala sovereign wealth fund and the Investment Corporation of Dubai, seeks integrated assets with direct access to raw materials—key characteristics of CBA.

Founded over 70 years ago, CBA operates in seven Brazilian states and controls the entire aluminum production chain, from bauxite extraction to smelting and refining. Industry analysts classify the company as a "fully integrated" asset, strategically positioned to meet the growing demand for low-carbon aluminum.

Votorantim and the strategic value of the asset.

Votorantim owns 69% of the shares of CBA (B3: CBAV3), whose market capitalization was around US$487 million at the last closing, according to LSEG data. If the deal goes through, the transaction is likely to include a significant premium over the market value, considering the potential to transform Brazil into a green aluminum export hub—a segment experiencing strong growth globally.

Although the Reuters It should be noted that while there is no confirmation of a formal offer, the discussions indicate EGA's growing interest in Latin American industrial assets, aligned with the energy transition and the decarbonization of production chains.

Mubadala's portfolio grows in Brazil.

The potential acquisition reinforces Mubadala's move to expand its investments in Brazil. The fund already holds stakes in strategic assets such as Acelen — the former Mataripe refinery in Bahia — and the data center company Elea Digital. Entering the aluminum sector would complement the United Arab Emirates' presence in infrastructure and clean energy segments in Latin America.

If finalized, the deal would position EGA prominently against global competitors such as Norway's Hydro and the US's Alcoa, both with a strong presence in Brazil. Furthermore, it would signal an important step in integrating the country into the new green economy, with the potential to boost exports and strengthen the national sustainable metals industry.