Saudi Mining completes the acquisition of the entire stake in Mosaic Fertilizer Company.

Saudi Arabian Mining Company (Ma’aden) announced in a statement released on the Saudi Stock Exchange (Tadawul) that it has completed the acquisition procedures and the execution of the full acquisition of Mosaic Phosphate Company's stake in Ma’aden Wa'ad Al Shamal Phosphate Company.

In this regard, Ma’aden stated that it has also deposited the replacement shares in favor of Mosaic Netherlands Holding - as the entitled shareholder of the new shares - and has listed them.

The acquisition deal involves Ma’aden purchasing the entire stake of Mosaic Phosphate Company (in addition to the marketing rights held by Mosaic as a guarantor) in Ma’aden Wa'ad Al Shamal Phosphate Company, which represents 25% of the capital of Ma’aden Wa'ad Al Shamal Phosphate Company.

The acquisition was executed through a capital increase of Ma’aden by 3.01% of the company's current capital, raising it to about 38.027 billion riyals, and increasing the number of shares to 3,802,785,871 ordinary shares.

According to the statement, Ma’aden clarified that the financial impact of the acquisition will reflect on the annual financial performance of the Saudi company for the year 2024.