Singapore-headquartered Prime Group, an international investment platform focused on resource development, has finalized a binding share purchase agreement to acquire a controlling stake in Germany’s Saxony Minerals & Exploration AG (SME AG). This EUR 150 million transaction, executed through its affiliate Prime Africa Trade PTE Ltd, marks Prime Group’s strategic entry into the European industrial base, signaling a significant expansion into a stable OECD jurisdiction rich in critical mineral potential.
The acquisition, spearheaded by Prime Group CEO Karim Bouhout, follows a period of substantial funding commitments for the company. These include a USD 100 million equity investment from Al Maktoum Finance, announced in late 2025. This move underscores Prime Group’s accelerated strategy to build a diversified, asset-backed portfolio in anticipation of its targeted Singapore Exchange (SGX) listing in 2026.
SME AG, based in Halsbrücke, Saxony, controls assets within a region boasting centuries of mining history. Modern geological assessments provide a robust technical foundation for future investment decisions, with the company holding a fully issued share capital of approximately EUR 5.22 million. The transaction will transfer a controlling interest from existing shareholders, with a clear path to achieving full operational control. The agreement is supported by comprehensive technical and financial documentation, including detailed geological reports and a forward-looking business plan that will guide the company’s development under Prime Group’s ownership.
For market observers, the SME AG acquisition reveals several strategic themes shaping 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 adding a European critical minerals pillar, the Group achieves jurisdictional diversification into a market characterized by strong rule of law, established infrastructure, and integration with European industrial supply chains. This also strengthens Prime Group’s asset-backed valuation story, as it systematically builds a portfolio of tangible, revenue-capable assets ahead of its planned 2026 SGX listing. The SME AG acquisition provides a data-backed asset with substantial geological potential and clear development pathways.
Furthermore, this transaction demonstrates a purposeful deployment of recently secured capital. Rather than holding dry powder, Prime Group is investing funds, 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, into assets with measurable potential and defined development roadmaps.
Karim Bouhout, CEO of Prime Group, has consistently articulated the company’s approach as transforming strategic capital into sovereign-adjacent infrastructure and resource assets. The SME AG acquisition aligns perfectly with this vision while adding a crucial new dimension to 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 geological heritage, combined with modern technical data and a clear development pathway, creates a compelling foundation for long-term value creation. This acquisition strengthens our institutional-grade portfolio as we progress toward our public market debut.”
This strategic investment positions Prime Group for continued growth and diversification, solidifying its portfolio with a significant European asset as it prepares for its highly anticipated public listing on the Singapore Exchange.
