Mosaic to Sell Stake in Saudi Arabian Phosphate Joint Venture to Ma’aden
04.30.24
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The Firm is representing The Mosaic Company (NYSE: MOS) in connection with its agreement to sell Mosaic’s 25% stake in Ma’aden Wa’ad Al Shamal Phosphate Company, a joint venture among Mosaic, Saudi Arabian Mining Company (Ma’aden) and Saudi Basic Industries Corporation in exchange for shares of Ma’aden valued at approximately $1.5 billion. The transaction is subject to regulatory approvals, approval by Ma’aden’s shareholders and other closing conditions and is expected to close by the end of 2024.
The Mosaic Company is one of the world’s leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single source provider of phosphates and potash fertilizers and feed ingredients for the global agriculture industry. Ma’aden is among the fastest-growing mining companies in the world and the largest multi-commodity mining and metals company in the Middle East.
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