AS&H Clifford Chance Advised Ma’aden On Strategic Stake Acquisition In MWSPC

AS&H Clifford Chance Advised Ma’aden On Strategic Stake Acquisition In MWSPC

AS&H Clifford Chance has successfully advised Ma’aden, the Saudi Arabian Mining Company, on acquiring an additional 25% stake in Ma’aden Wa’ad Al Shamal Phosphate Company (MWSPC) from Mosaic Phosphates B.V. The transaction involved the issuance of new Ma’aden shares to Mosaic, representing approximately 2.92% of Ma’aden’s entire issued share capital.

The deal was formalized with the execution of a sale, purchase, and subscription agreement on 29 April 2024. It later received shareholder approval at Ma’aden’s extraordinary general meeting on 11 December 2024, specifically regarding the company’s capital increase. The transaction reached completion on 24 December 2024.

The AS&H Clifford Chance team advising Ma’aden was jointly led by Partners Mansoor Alhagbani and Omar Rashid, based in Riyadh. They were supported by Associates Haifa Al Damegh, Noura Al Assaf, and Senior Associate Muhammad Ansab. Counsel Selman Ansari spearheaded the anti-trust aspects of the transaction, leveraging his expertise in regulatory matters.