Knauf Offers SAR 293.5M for Remaining Mining Shares

German building-materials group Knauf International GmbH has moved to take full control of United Mining Industries, submitting an offer to acquire the company's remaining 5,149,331 shares at SAR 57 each. The maximum consideration for this stage stands at approximately SAR 293.51 million (about $78.27 million at the fixed exchange rate of SAR 3.75 to the dollar).

The shares carry a nominal value of SAR 10 each. Knauf already owns 8,850,669 shares — equal to 63.2% of the company — after paying roughly SAR 504.5 million at the same price of SAR 57 If the current offer is accepted in full, Knauf would reach 100% ownership, bringing its total spending on the acquisition to about SAR 797.96 million.

The Capital Market Authority approved the publication of the offer document and its timetable on 21 September 2026. The tender-offer period runs from 27 September to 4 November 2026, with settlement scheduled for 18 November 2026.

What shareholders should know

Eligible shareholders may accept the offer for some or all of their shares through their authorised securities broker and the Saudi Exchange settlement process. No government-service platform or procedure is involved in accepting the offer.

For the wider community, the deal reflects continued interest from international companies in the Kingdom's industrial and mining sector. A full acquisition would place a well-established global manufacturer in complete ownership of a listed Saudi business, a development watched closely by investors and market participants across Riyadh and Jeddah.

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