Mosaic Enters Share Purchase And Subscription agreement With The Saudi Arabian Mining Company ("Ma'aden")
Portfolio Pulse from Benzinga Newsdesk
Mosaic has entered into a Share Purchase and Subscription Agreement with the Saudi Arabian Mining Company (Ma'aden), where Mosaic will receive 111,012,433 shares of Ma'aden, valued at approximately $1.5 billion. This is in exchange for Mosaic's current 25 percent stake in the Ma'aden Wa'ad Al Shamal Phosphate Company, a joint venture among Mosaic, Ma'aden, and Saudi Basic Industries Corporation.
April 30, 2024 | 10:16 am
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Mosaic's strategic exchange of its 25% stake in a joint venture for shares in Ma'aden, valued at $1.5 billion, could significantly enhance its asset base and future revenue potential.
This transaction not only diversifies Mosaic's investment portfolio but also strengthens its strategic position in the global mining sector. The substantial value of the shares received ($1.5 billion) indicates a significant asset gain, which could positively influence investor perception and potentially lead to a short-term increase in stock price.
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