08:20 AM EST, 11/05/2026 (MT Newswires) -- Knauf International secured a 99.3% stake in United Mining Industries (SASE:9583), following the closing of its tender offer on Wednesday. United Mining said Thursday that 5,050,903 of its shares, representing 36.1% of its share capital, were tendered under the offer. Knauf, which held a 63.2% stake in the building materials company before the transaction, intends to seek the Capital Market Authority's approval to launch a mandatory offer for the remaining 0.7% of shares at a purchase price of 57 Saudi riyals apiece. Settlement of the tender offer is expected on Nov. 18. Meanwhile, delisting of United Mining's shares from the Saudi bourse remains subject to regulatory and shareholder approval.

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