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Knaouf German Advances in United Mining Purchase
The article reveals that German company Knauf International is moving toward complete acquisition of the Saudi company United Mining Industries through a cash offer to buy the remaining shares owned by the public, valued at approximately 293.5 million Riyals for about 5.15 million shares at a price of 57 Riyals per share. This follows their acquisition in May 2026 of a 63.2% stake in the company for 504.5 million Riyals, bringing the total deal value to around 798 million Riyals. The offer aims to complete the entire purchase, with the price remaining fixed at 57 Riyals, which includes a premium of 26.7% over the share price before the announcement and 2.7% above the closing price on September 24.
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