Riyadh — Mubasher: United Mining Industries Company announced the publication of its board of directors' circular concerning the mandatory cash offer from Knauf International GmbH, according to a bourse filing.
The German firm, which currently holds 8.85 million shares representing 63.2% of United Mining Industries, is seeking to acquire the remaining 5.14 million shares to reach 100% ownership.
The offer price is set at SAR 57 per share, totaling SAR 293.51 million.
This price represents a +26.7% premium over the closing price of SAR 45 on 21 January 2026 and a +2.7% premium over the 24 September 2026, closing price of SAR 55.50.
The board, supported by independent financial advisor Alkhair Capital, has unanimously recommended that shareholders accept the offer, describing the terms as fair and reasonable.
The acceptance period for the offer commenced on 27 September 2026 and is scheduled to close on 4 November 2026.
Knauf has indicated its intention to delist United Mining Industries from the Saudi Exchange (Tadawul) following the completion of the transaction.
Knauf’s ownership reaches 90% or more, it intends to exercise its right to mandatory squeeze-out of any remaining minority shareholders.
Furthermore, payment to selling shareholders is expected by 18 November 2026.
