Maaden acquires Mosaic Phosphate shares in Wa'ad Al Shamal

Saudi Arabian Mining Co. (Maaden) headquarters

Saudi Arabian Mining Co. (Maaden) completed the acquisition of all shares owned by Mosaic Phosphates BV in Ma'aden Wa'ad Al Shamal Phosphate Co., including related marketing rights for phosphate and fertilizer products.

According to a statement on Tadawul, the acquisition procedures were finalized and the compensation shares deposited and listed as of Dec. 24, 2024, in favor of Mosaic Global Netherlands BV, the entitled shareholder.

For More Mergers and Acquisitions

The acquisition deal is expected to have an impact on the consolidated financial statements for the year ending Dec. 31, 2024.

The deal did not include related parties, the statement noted.

According to data compiled by Argaam, Maaden shareholders recently approved the proposal for the company’s capital increase from SAR 36.91 billion to SAR 38.02 billion, through issuing 111.01 million ordinary shares.

The purpose was to acquire the entire stake of Mosaic Phosphates in Ma'aden Wa'ad Al Shamal Phosphate, including related marketing rights for phosphate and fertilizer products.