STAT is pleased to announce that it acted as legal counsel to the substantial shareholders of United Mining Industries Company (UMI) in connection with the sale of their entire shareholding to Knauf International GmbH.

The transaction involved the sale of ordinary shares representing 63.2% of UMI’s issued share capital, for an aggregate consideration of approximately SAR 504 million.

STAT advised the selling shareholders across all aspects of the transaction, including deal structuring, negotiation, transaction documentation, regulatory compliance, and completion mechanics.

The STAT team was led by Mishari Al Abbad, Managing Partner, supported by Associates Momina Iftikhar, Tara Alsaad, and Wafa Alenezi.

Mishari Al Abbad commented: “Saudi Arabia is increasingly attracting serious, long-term international capital, and this transaction is a good example of that. We were pleased to advise our clients on a smooth and well-executed exit, and look forward to continuing to support transactions that reflect the Kingdom’s position as one of the most dynamic economies in the world today.”