Ma’aden Completes Acquisition of Mosaic Phosphates’ Stake in Wa’ad Al Shamal Phosphate Company

Saudi Arabian Mining Company (Ma’aden) has completed its acquisition of Mosaic Phosphates B.V.’s entire stake in Ma’aden Wa’ad Al Shamal Phosphate Company, the company said in a statement on Tuesday.
The transaction includes the issuance of new shares to Mosaic Netherlands Holding Company, the designated recipient, with the shares listed on December 24, 2024. The acquisition follows approval from Ma’aden’s Extraordinary General Assembly on December 12, which greenlit a capital increase to facilitate the share issuance.
The acquisition involves 210,937,500 shares, representing 25% of Wa’ad Al Shamal Phosphate’s share capital. This increases Ma’aden’s capital by SAR 1,110,124,330 ($296 million), bringing it to SAR 38.03 billion from SAR 36.92 billion, reflecting a 3.01% rise. Ma’aden’s total number of shares will rise to 3.8 billion from 3.69 billion.
The company clarified that no related parties are involved in the transaction.
Ma’aden said the financial impact of the acquisition will be reflected in its consolidated financial statements for the year ending December 31, 2024.
Further details were disclosed on the Saudi Stock Exchange (Tadawul) website earlier this month.