{"id":92900,"date":"2024-12-26T00:00:00","date_gmt":"2024-12-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/26\/maaden-now-owns-85-of-the-waad-al-shamal-jv-with-sabic\/"},"modified":"2024-12-26T00:00:00","modified_gmt":"2024-12-26T00:00:00","slug":"maaden-now-owns-85-of-the-waad-al-shamal-jv-with-sabic","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/26\/maaden-now-owns-85-of-the-waad-al-shamal-jv-with-sabic\/","title":{"rendered":"Ma\u2019aden now owns 85% of the Wa\u2019ad Al Shamal JV with Sabic"},"content":{"rendered":"

Ma\u2019aden takes a bigger slice of a JV with Sabic<\/strong>: Ma\u2019aden acquired Mosaic<\/a>Phosphates BV<\/a> \u2019s full 25% stake in the Ma\u2019aden Wa\u2019ad Al Shamal Phosphate Company<\/a>(MWSPC)<\/a> joint venture, according to a disclosure to Tadawul<\/a>. This raises Ma\u2019aden\u2019s ownership in the JV to 85%<\/a>. <\/p>\n

The fine print:<\/strong> Mosaic will offload its entire 25% stake in MWSPC in exchange for 111 mn newly issued shares in Ma\u2019aden, which will amount to 2.9% of Ma\u2019aden\u2019s share capital following the transaction. The mining company set a share swap ratio for its outgoing shares of 0.53 for every 1 share in MWSPC, which brings the total transaction value \u2014 including guarantor\u2019s rights and the fertilizer product marketing agreement \u2014 to SAR 5.6 bn. Both parties will be held to a lock-up period of 5 years.<\/p>\n

Advisors:<\/strong> Our friends at HSBC acted as financial advisors to Ma\u2019aden, while AS&H Clifford Chance provided counsel.<\/p>\n","protected":false},"excerpt":{"rendered":"

Total transaction value is SAR 5.6 bn<\/p>\n","protected":false},"author":1,"featured_media":92901,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[10,14,138,1912],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam-ksa","tag-ma-watch","tag-sabic","tag-saudi-arabian-mining-company-maaden","wpautop","entry"],"acf":{"mongo_id":"e8dd61d3-d711-48fb-b572-06c2a8d91e97","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/2271.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Ma\u2019aden now owns 85% of the Wa\u2019ad Al Shamal JV with Sabic","related_issue":[92890],"teaser":"Total transaction value is SAR 5.6 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.c4773c46-9bba-4f6f-8334-5ef838004ed9.mp3"},"yoast_head":"\nMa\u2019aden now owns 85% of the Wa\u2019ad Al Shamal JV with Sabic - 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