Logo of United Mining Industries Co. (UMI)
United Mining Industries Co., on behalf of Knauf International GmbH, announced the results of shareholders’ acceptance of Knauf’s takeover offer. 
In a statement to Tadawul, the company said shareholders tendered 5.05 million shares, representing 36.1% of its capital. Knauf owned approximately 8.85 million shares, or 63.2% of the company’s capital, before the offer period.
Accordingly, Knauf’s stake in United Mining will rise to 99.3% upon settlement of the takeover offer, while the remaining shares not tendered represent approximately 0.7% of the company’s capital.
The company said the offer acceptance period began on Sept. 27, 2026, and ended on Nov. 4, 2026.
The takeover offer will be settled within 10 business days of the announcement date, with Nov. 18, 2026, set as the settlement date.
The shares accepted for sale will be automatically transferred to Knauf through the Securities Depository Center (Edaa), against payment of the consideration to selling shareholders.
Shareholders who accepted the offer are not entitled to withdraw their acceptance, the company added.
Mandatory Offer for Remaining Shares
Knauf intends to apply to the Capital Market Authority (CMA) for approval to launch a mandatory offer to acquire the remaining shares that were not tendered.
If the CMA approves the application, the remaining shareholders will be required to sell their shares to Knauf for cash consideration of no less than SAR 57 per share, the price specified in the takeover offer.
Plans to Delist
Knauf also intends to take the necessary steps to delist United Mining shares from the Saudi Exchange upon completion of the takeover offer.
The delisting is subject to approval by the CMA and the company’s extraordinary general meeting.
The company said it would announce completion of the takeover later, with the announcement expected no later than Nov. 19, 2026.
Takeover Details
Item
Details
Knauf’s ownership before the offer
63.2%
Shares tendered
36.1%
Knauf’s ownership after settlement
99.3%
Remaining shares
0.7%
Takeover offer price
SAR 57 per share
Offer closing date
Nov. 4, 2026
Settlement date
Nov. 18, 2026
Latest expected date for completion announcement
Nov. 19, 2026
According to Argaam data, United Mining, earlier announced on behalf of Knauf that the CMA had approved the publication of the offer document and timetable for Knauf’s bid to acquire up to 100% of the company’s remaining shares on Sept. 21, 2026.
In May, United Mining received a notice from Knauf confirming the completion of a negotiated deal to acquire all shares held by the company’s major shareholders. The transaction covered 8.9 million ordinary shares, representing 63.2% of the company’s total capital, for SAR 504.5 million.
Logo of United Mining Industries Co. (UMI)
United Mining Industries Co., on behalf of Knauf International GmbH, announced the results of shareholders’ acceptance of Knauf’s takeover offer.
In a statement to Tadawul, the company said shareholders tendered 5.05 million shares, representing 36.1% of its capital. Knauf owned approximately 8.85 million shares, or 63.2% of the company’s capital, before the offer period.
Accordingly, Knauf’s stake in United Mining will rise to 99.3% upon settlement of the takeover offer, while the remaining shares not tendered represent approximately 0.7% of the company’s capital.
The company said the offer acceptance period began on Sept. 27, 2026, and ended on Nov. 4, 2026.
The takeover offer will be settled within 10 business days of the announcement date, with Nov. 18, 2026, set as the settlement date.
The shares accepted for sale will be automatically transferred to Knauf through the Securities Depository Center (Edaa), against payment of the consideration to selling shareholders.
Shareholders who accepted the offer are not entitled to withdraw their acceptance, the company added.
Mandatory Offer for Remaining Shares
Knauf intends to apply to the Capital Market Authority (CMA) for approval to launch a mandatory offer to acquire the remaining shares that were not tendered.
If the CMA approves the application, the remaining shareholders will be required to sell their shares to Knauf for cash consideration of no less than SAR 57 per share, the price specified in the takeover offer.
Plans to Delist
Knauf also intends to take the necessary steps to delist United Mining shares from the Saudi Exchange upon completion of the takeover offer.
The delisting is subject to approval by the CMA and the company’s extraordinary general meeting.
The company said it would announce completion of the takeover later, with the announcement expected no later than Nov. 19, 2026.
Takeover Details
Item
Details
Knauf’s ownership before the offer
63.2%
Shares tendered
36.1%
Knauf’s ownership after settlement
99.3%
Remaining shares
0.7%
Takeover offer price
SAR 57 per share
Offer closing date
Nov. 4, 2026
Settlement date
Nov. 18, 2026
Latest expected date for completion announcement
Nov. 19, 2026
According to Argaam data, United Mining, earlier announced on behalf of Knauf that the CMA had approved the publication of the offer document and timetable for Knauf’s bid to acquire up to 100% of the company’s remaining shares on Sept. 21, 2026.
In May, United Mining received a notice from Knauf confirming the completion of a negotiated deal to acquire all shares held by the company’s major shareholders. The transaction covered 8.9 million ordinary shares, representing 63.2% of the company’s total capital, for SAR 504.5 million.
