Mosaic enters share purchase and subscription agreement with ma'aden

Tampa, fl / accesswire / april 30, 2024 / the mosaic company (nyse:mos) announced today that it has entered into an agreement with the saudi arabian mining company ("ma'aden") under which mosaic will receive 111,012,433 shares of ma'aden valued at approximately $1.5 billion in exchange for mosaic's current 25 percent stake in ma'aden wa'ad al shamal phosphate company, a joint venture among mosaic, ma'aden and saudi basic industries corporation. the agreement generally requires mosaic to hold its ma'aden shares for a minimum of three years, with one-third of the shares becoming transferable after the third, fourth and fifth anniversary of the closing.
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