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Mosaic to Sell Stake in Saudi JV to Ma'aden for $1.5 Billion in Stock

Fertilizer maker Mosaic Co (MOS.N) said on Tuesday that Saudi Arabia's firm Ma'aden would acquire the US-based company's stake in a phosphate production joint venture by issuing shares worth about $1.5 billion. Ma'aden will issue about 111 million shares to buy the 25% stake Mosaic owns in Ma'aden Wa'ad Al Shamal Phosphate Co, a joint venture between Mosaic, Ma'aden and Saudi Basic Industries (2010.SE), opens new tab Corp.
Saudi Arabia Maaden Waad Al Shamal Phosphate Co Saudi Basic Industries Mosaic Co
Source: aawsat.com

Saudi Chemical Giant's Profit Slumps as Pressures Persist

(Bloomberg) -- Saudi Arabia’s top chemicals company reported a 62% drop in year-on-year profit as weak demand puts the industry under stress. Most Read from BloombergTesla Axes Supercharger Team in Blow to Broader EV MarketNYPD Arrests Over 300 Protesters in Crackdown on College CampusesFed to Signal Delay of Interest-Rate CutsThe Ozempic Effect: How a Weight Loss Wonder Drug Gobbled Up an Entire EconomyLilly Soars as Forecast Boost Shows Weight-Loss Drugs’ PowerSaudi Basic Industr...
Saudi Arabia Bloomberg Businessweek Abdulrahman Al Fageeh Muneeza Naqvi John Deane Saudi Aramco
Source: yahoo.com

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