The Mosaic Co. has announced that it has completed the transaction with Saudi Arabian Mining Co. (Ma'aden) to sell the interest it holds in Ma'aden Wa'ad Al Shamal Phosphate Co. (MWSPC) and establish the company as a shareholder in Ma'aden. In this transaction, which closed on December 24, 2024, Mosaic received 111 012 433 shares of Ma'aden – valued at approximately US$1.5 billion on the closing date – in exchange for Mosaic's 25% stake in MWSPC, previously a joint venture among Mosaic, Ma'aden and Saudi Basic Industries Corp. Mosaic expects to record a pre-tax gain of approximately US$0.5 billion in Q424 based on the share price at closing.
"We are pleased to complete this transaction. We have enjoyed a long and successful partnership with Ma'aden, and we look forward to continuing our work together under this evolved structure," said Bruce Bodine, President, and CEO of Mosaic. "Mosaic now has a transparent value for its investment in Ma'aden and greater capital flexibility in the future."
