AS&H Clifford Chance with Ma’aden on acquisition
AS&H Clifford Chance advised Ma’aden on the acquisition of an additional 25% stake in MWSPC from Mosaic Phosphates. In exchange Ma’aden will issue new shares 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. 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 AS&H Clifford Chance team
The AS&H Clifford team advising Ma’aden was jointly led by partners Mansoor Alhagbani (pictured right) and Omar Rashid (pictured left). Further, it was supported by associates Haifa Al Damegh, Noura Al Assaf, and senior associate Muhammad Ansab, all based in Riyadh. Counsel Selman Ansari, also based in Riyadh, led on the anti-trust aspects of the transaction.
