Staff Report
Singapore-headquartered Prime Group has made a significant move into the European market, securing a controlling stake in Germany’s Saxony Minerals & Exploration AG (SME AG) through a binding share purchase agreement. This EUR 150 million transaction, executed via its affiliate Prime Africa Trade PTE Ltd, marks Prime Group’s inaugural major entry into the European industrial base, signaling a strategic expansion into a stable OECD jurisdiction rich in critical mineral potential. The acquisition positions the company for substantial growth ahead of its anticipated Singapore Exchange (SGX) listing in 2026.
Under the leadership of CEO Karim Bouhout, Prime Group has been actively pursuing an aggressive growth strategy. This latest acquisition follows a series of substantial funding commitments, including a USD 100 million equity investment from Al Maktoum Finance, announced in late 2025. The swift execution of this deal underscores the company’s commitment to building a diversified, asset-backed portfolio, a key component of its pre-IPO narrative.
SME AG, based in Halsbrücke, Saxony, controls valuable assets within a region renowned for centuries of mining history. Modern geological assessments provide a robust technical foundation, supporting future investment decisions and development plans. The company currently holds a fully issued share capital of approximately EUR 5.22 million. The transaction will transfer a controlling interest from existing shareholders, paving the way for Prime Group to achieve full operational control. This agreement is supported by comprehensive technical and financial documentation, including detailed geological reports and a forward-looking business plan that will guide SME AG’s next phase of development.
For market observers, the acquisition of SME AG highlights several strategic themes crucial to Prime Group’s trajectory toward its public market debut. This move into Germany represents a significant diversification from Prime Group’s historical focus on African energy assets and its recent entry into Southeast Asia’s hydrocarbon sector. By integrating a European critical minerals pillar, the Group achieves jurisdictional diversification into a market characterized by strong rule of law, established infrastructure, and deep integration with European industrial supply chains. This strategy enhances the company’s resilience and broadens its operational scope.
Prime Group is systematically building a portfolio of tangible, revenue-capable assets to bolster its valuation ahead of the planned 2026 SGX listing. The SME AG acquisition provides a data-backed asset with substantial geological potential and clearly defined development pathways, as outlined in its business plan. This strategic deployment of capital gives tangible direction to recently secured funding lines, including the SGD 220 million Share Subscription Facility from GEM Global Yield LLC SCS and the USD 100 million equity stake from Al Maktoum Finance. Rather than holding dry powder, Prime Group is actively investing in assets with measurable potential and clear development roadmaps.
Karim Bouhout, CEO of Prime Group, has consistently articulated the company’s vision of transforming strategic capital into sovereign-adjacent infrastructure and resource assets. The SME AG acquisition aligns perfectly with this vision, while simultaneously expanding the Group’s geographic footprint. A Prime Group spokesperson emphasized, “Our entry into Germany’s critical minerals sector reflects our commitment to identifying and developing high-quality resource platforms worldwide. Saxony’s rich geological heritage, combined with modern technical data and a clear development pathway, creates a compelling foundation for long-term value creation. This acquisition significantly strengthens our institutional-grade portfolio as we progress toward our public market debut.”
This strategic acquisition underscores Prime Group’s commitment to becoming a global leader in resource development, leveraging diversified assets and robust financial backing to drive sustainable growth and deliver value to stakeholders as it prepares for its listing on the Singapore Exchange.
