LuLu awards 14 cars to Super Fest winners

The handover ceremony was held consecutively in three regions in Riyadh, Alkhobar and Jeddah.
Updated 21 January 2019

LuLu awards 14 cars to Super Fest winners

LuLu has awarded 14 winners of its grand raffle giveaway a Jeep Compass each, as part of its recently held annual anniversary celebrations. Along with the car prizes, LuLu gift vouchers worth SR50,000 ($13,326) were awarded to 50 lucky customers with each having received SR1,000. The handover ceremony was held consecutively in three regions — Riyadh, Alkhobar and Jeddah.
LuLu Commercial Manager for Saudi Arabia Adeeb Ali Al-Qarni said: “We are extremely glad about the success of LuLu Super Fest, which has brought not only fun and excitement but most importantly the perfect time to give something extra special to our loyal customer base, coinciding with our ninth year celebration of serving the people of the Kingdom as a conducive shopping destination. Moreover, our newly launched #LiveDeals, which featured an on-the-spot ‘Guess & Win’ contest, received a great response as well. We are excited to unveil more enjoyable events in the coming months.”
LuLu Super Fest showcased a number of product offers and exciting in-store activities.
“With over 150 stores operating worldwide, LuLu has always been committed to offering the highest quality products from around the world, along with a great shopping experience through monthly festivals and special events,” the hypermarket chain said in a press release.
It added: “LuLu has continuously been exerting its efforts to provide and sustain the supply of global products at the best rates. With the excellent combination of high-quality offerings and organized logistics system, LuLu remains to be the favorite shopping destination in Saudi Arabia when it comes to a broader selection of international products.”

Ma’aden acquisition supports Vision 2030

Updated 24 April 2019

Ma’aden acquisition supports Vision 2030

The acquisition of an African fertilizer distribution company by Ma’aden, the largest Saudi mining company, will advance Ma’aden’s Strategy 2025, which includes plans to expand operations in the Kingdom and grow sales globally. The acquisition will also support Saudi Arabia’s Vision 2030, which seeks to diversify the economy, increase non-oil exports, boost the Kingdom’s non-oil GDP, and reinforce the mining sector as the third pillar of Saudi industry, after oil and gas and petrochemicals. 

Ma’aden will make its first international acquisition with the purchase of the Mauritius-based Meridian Group, which is due to be completed by September for an undisclosed fee.

The publicly-listed Saudi mining company will acquire an 85 percent stake in the company in an all-cash deal that will provide one of the Middle East’s largest phosphate producers with 3,000 staff and a network of operations across southern Africa, from Malawi to Mozambique, Zimbabwe and Zambia. Phosphate is used to produce fertilizer that is essential in replacing the phosphorous mineral that is removed from soil when agricultural crops are harvested. 

“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 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.” 

Agriculture forms a significant portion of the economies of all African countries. As a sector, it can therefore contribute to major continental priorities, such as eradicating poverty and hunger. The agri industry can also boost intra-Africa trade and investments, rapid industrialization and economic diversification, sustainable resource and environmental management, and create jobs, human security and shared prosperity.

The Southeast African market, like most of the African continent of 1 billion people, is experiencing increased demand for phosphate fertilizers which industry analysts expect to continue growing by 5 percent annually over the next decade, fueled by population growth and increasing education in the use of fertilizers.

“Ma’aden is acquiring unparalleled access to complementary distribution, blending and product-development capabilities in this fast-growth region,” said Hassan Al-Ali, Ma’aden’s senior vice president for phosphate. “This transaction will provide us with logistics advantages in Southeast Africa, and greater knowledge of on-the-ground customer requirements, both of which will be instrumental in better serving our customers.”

The Saudi global mining giant will secure the remaining 15 percent of Meridian’s equity over four years on agreed terms linked to the performance of the African company, which distributes approximately half-a-million tons of fertilizer through its network of granulation and blending plants, warehousing complexes and port facilities. 

HSBC acted as Ma’aden’s financial adviser on the deal and Baker McKenzie was the Saudi company’s legal adviser for this acquisition.