Riyadh – Mubasher: Ma’aden Marketing and Distribution Company, which is fully owned by Saudi Arabian Mining Company (Ma’aden), has received the applicable regulatory approval to complete the transaction to acquire 8a5% of Meridian Group.
The financial impact of the acquisition is expected to be reflected in the financial results of the third quarter of 2019, according to Ma’aden's statement to the Saudi Stock Exchange (Tadawul) on Thursday.
In April, Ma’aden’s unit has signed an agreement to acquire an 85% stake of Mauritius-based Meridian Group.
The deal enables Ma’aden’s unit to submit a request for purchasing the 15% remaining stake in the next four years.
