Mosaic announces closing of share purchase and subscription agreement with Ma'aden

The Mosaic Company (NYSE:MOS) announced that it has completed the transaction with Saudi Arabian Mining Company (Ma'aden) to sell the interest it holds in Ma'aden Wa'ad Al Shamal Phosphate Company (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 $1.5 billion on the closing date - in exchange for Mosaic's 25 percent stake in MWSPC, previously a joint venture among Mosaic, Ma'aden and Saudi Basic Industries Corporation. Mosaic expects to record a pre-tax gain of approximately $0.5 billion in the fourth quarter 2024 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."