file

AS&H Clifford Chance advises Saudi Arabian Mining Company (Ma’aden) on the acquisition of 25% of Ma’aden Wa’ad Al Shamal Phosphate Company (MWSPC) from Mosaic

27 Dec 2024

AS&H Clifford Chance has advised Ma’aden on the acquisition of an additional 25% stake in MWSPC from Mosaic Phosphates B.V in exchange for the issuance of new shares in Ma'aden to Mosaic representing approximately 2.92% of its entire issued share capital. A sale, purchase and subscription agreement was executed in respect of the transaction on 29 April 2024, and subsequently the transaction received the approval of Ma’aden’s shareholders at an extraordinary general meeting on 11 December 2024 with respect to the capital increase of Ma'aden and completed on 24 December 2024.

The team advising Ma’aden was jointly led by Partners Mansoor Alhagbani and Omar Rashid, with support from a core team comprising of Haifa Al Damegh, Muhammad Ansab and Noura Al Assaf, all based in Riyadh. Selman Ansari, also based in Riyadh, led on the anti-trust aspects of the transaction.

AS&H Clifford Chance has a strong track record of advising on some of the largest, most innovative and complex M&A transactions. This includes advising the Public Investment Fund on its US$69 billion sale of its stake in SABIC, which remains the largest ever M&A transaction in the Middle East, as well as advising National Commercial Bank on its merger with Samba Financial Group, which created the largest bank in Saudi Arabia.