Knauf International GmbH agreed to acquire 63.20% stake in United Mining Industries Company (SASE:9583) from Rashid Developments Limited, Abdulkadir Al Muhaidib and Sons Company and Al Moajel Trading and Contracting Company for approximately SAR 500 million on January 21, 2026. As part of acquisition, 8,850,669 shares will be acquired for SAR 57 per share. Following completion of transaction, Knauf International intends to submit an offerto acquire up to 100% of the shares in the share capital of United Mining Industries.

The transaction is subject to approval by regulatory board / committee and third-party approval needed.

Lazard & Co. GmbH acted as financial advisor for Knauf International GmbH. Abuhimed Alsheikh Alhagbani Law Firm acted as legal advisor for Knauf International GmbH.