Ma'aden completes acquisition of Meridian Group
Aug 29, 2019
Riyadh, KSA – Ma’aden has completed the completion of its first international acquisition through the 85% share purchase of Meridian, the Mauritius-based fertilizer distribution group. The acquisition was completed at an enterprise value of USD 140 million, equivalent to SAR 525 million.
A binding agreement was first signed in mid-April in Ras Al Khair Industrial City in eastern Saudi Arabia. The remaining 15% of Meridian shares are set to be acquired over approximately the next four years.
The acquisition is an important milestone for Ma’aden as the company executes its strategy to build global distribution channels for fertilizer products.…