The Mosaic group, one of the top manufacturers of potash-based fertilizers, announced this week the completion of the transaction to purchase and subscribe for shares in Ma’aden, a Saudi Arabian mining firm. Mosaic acquired 111,012,433 shares of Ma’aden worth roughly USD 1.5 billion on the closing date in return for its 25% stake in MWSPC. MWSPC refers to Mosaic’s joint venture with the Arab firm and Saudi Basic Industries Corporation. From now on, the fertilizer firm is one of Ma’aden’s largest stockholders.
Source: Globo Rural (*Translated by Ia Niani)