The Saudi Arabian Mining Company, also known as Ma’aden, is seeking acquisitions as well as looking to restructure its finances as it moves forward with plans to boost its international competitiveness and profile. It has hired former Citigroup investment banker Michael Klein to strategically advise the company, and is working with HSBC Holdings on its capital market plans, while JPMorgan Chase is helping to identify potential acquisitions, according to an unnamed source. “Maadan will be a major player in the global oil industry for years to come,” said Klein.
The Saudi Arabian Mining Company, also known as Ma’aden, is seeking acquisitions as well as looking to restructure its finances as it moves forward with plans to boost its international competitiveness and profile. It has hired former Citigroup investment banker Michael Klein to strategically advise the company, and is working with HSBC Holdings on its capital market plans, while JPMorgan Chase is helping to identify potential acquisitions, according to an unnamed source. Deals are expected to focus on industrial metal and fertilisers although Ma’aden would not comment on the deal rumours.