Phatisa sold an 85% stake in Meridian to Ma'aden.

Phatisa, a private equity and venture capital firm, sold an 85% stake in Meridian to Ma'aden, a diversified mining company. Meridian Group companies locally manufacture, distribute and trade in agricultural commodities. Financial terms were not disclosed. “This acquisition marks a very important step in Ma’aden’s strategy to build global distribution channels for our fertilizer products,” said Darren Davis, President and Chief Executive Officer of Ma’aden. “As we continue to build one of the largest producers and exporters of phosphate fertilizers in the world, ensuring an efficient route to key growth markets is critical to our success.”