The story
Sonasid was established in 1974 as a state-owned enterprise. It was privatized in 1997 when it was acquired by the royal holding company ONA Group (now part of Al Mada). In 2006, ArcelorMittal increased its stake in the company through a 50-50 joint venture with SNI (now Al Mada), forming the entity Nouvelles Sidérurgies Industrielles (NSI), which now holds a controlling share in Sonasid.
From Wikipedia’s article on Sonasid, shared under CC BY-SA 4.0.4