The following is a summary of all announcements from the past month regarding investment deals, partnerships, and other commercial news between U.S. and Saudi companies.
Mining
Mosaic Sells Saudi JV Stake to Ma’aden in $1.5 Billion Deal
U.S. fertilizer company Mosaic is selling its 25 percent stake in an $8 billion (SR30 billion) Saudi Arabian phosphate production joint venture to the country’s flagship miner Ma’aden, in a stock deal worth about $1.5 billion (5.63 billion).
Saudi Arabian Mining Company (Ma’aden) is a member of the Business Council.
Oil, Gas, & Petrochemicals
Finance and Investment
BlackRock to Launch PIF-Backed Saudi Investment Platform
The world’s largest asset manager BlackRock said it plans to launch a new investment platform in Saudi Arabia, backed by up to $5 billion (SR18.75 billion) from the Public Investment Fund.
Goldman Sachs to Establish Regional Headquarters in Riyadh: Report
Goldman Sachs Group is set to become the first Wall Street bank to establish its regional headquarters in Saudi Arabia as it has reportedly obtained a license from the Ministry of Investment, reported Bloomberg.
Tourism & Entertainment
Sabre Corporation, a leading software and technology provider that powers the global travel industry, and Taiba Investments, a leading Saudi hospitality company with an extensive record in managing, developing, and operating hotels and residential compounds across the Kingdom, announced the signing of a strategic technology agreement at the Arabian Travel Market event in Dubai.
