{"id":599090,"date":"2019-06-18T04:03:20","date_gmt":"2019-06-18T04:03:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/oci-nv-adnoc-create-jv-combining-their-middle-east-fertilizers-businesses\/"},"modified":"2019-06-18T04:03:20","modified_gmt":"2019-06-18T04:03:20","slug":"oci-nv-adnoc-create-jv-combining-their-middle-east-fertilizers-businesses","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/oci-nv-adnoc-create-jv-combining-their-middle-east-fertilizers-businesses\/","title":{"rendered":"OCI NV, ADNOC create JV combining their Middle East Fertilizers Businesses"},"content":{"rendered":"

<\/a> M&A WATCH- Tie-up between OCI NV and ADNOC will create the largest fertilizer producer in MENA:<\/b> Abu Dhabi National Oil Company (ADNOC) has agreed to merge its fertilizers business into OCI NV\u2019s nitrogen fertilizers production platform in the Middle East and North Africa, creating the largest export-focused nitrogen fertilizer platform globally and the largest producer in the MENA region, OCI NV said in a statement (pdf)<\/a>. The new Abu Dhabi-based entity will have a production capacity of 5 mn tonnes of urea and 1.5 mn tonnes of ammonia. Annual revenues for the combined entity are USD 1.74 bn, based on 2018 pro forma figures. OCI will own 58% of the JV and ADNOC 42%. The transaction is expected to close in 3Q2019, subject to legal and regulatory conditions.<\/p>\n

So what assets are merging, exactly?<\/b> OCI\u2019s MENA assets include Egyptian Fertilizer Company (EFC), a 60% stake in Egypt Basic Industries Corporation (EBIC), a 51% stake in Sorfert in Algeria and a global trading platform based in the UAE. ADNOC Fertilizers operates two plants in Ruwais in the UAE.<\/p>\n

OCI boss Nassef Sawiris will also become CEO of the new entity<\/b>, while UAE Minister of State and CEO of ADNOC Sultan Ahmed Al Jaber will be chairman.<\/p>\n

Advisors:<\/b> J.P. Morgan acted as financial advisor and Cleary Gottlieb Steen & Hamilton LLP as legal counsel to OCI NV. Citi acted as financial advisor and Shearman & Sterling as legal counsel to ADNOC.<\/p>\n

The story is getting traction in the foreign press:<\/b> FT<\/a> | CNBC<\/a> | The National<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- Tie-up between OCI NV and ADNOC will create the largest fertilizer producer in MENA: Abu Dhabi National Oil Company (ADNOC) has agreed to merge its fertilizers business into OCI NV\u2019s nitrogen fertilizers production platform in the Middle East and North Africa, creating the largest export-focused nitrogen fertilizer platform globally and the largest producer […]<\/p>\n","protected":false},"author":1,"featured_media":599091,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,99,7128,3388,5515,2380,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-599090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-fertilizers","tag-ma-watch","tag-nassef-sawiris","tag-oci-nv","tag-speed-round","tag-uae","wpautop","entry"],"acf":{"mongo_id":"e87d7b50-9a63-441c-aa6b-e1a806dd2439","is_powered_by":true,"section_story_id":"b692d5e9-308f-4b04-b0c0-c7125b36918b","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/6\/2206.jpg","photo_position":"above","related_issue":[599082],"teaser":"","voice_url":""},"yoast_head":"\nOCI NV, ADNOC create JV combining their Middle East Fertilizers Businesses - 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OCI agreed in June to merge with ADNOC to set up an Abu Dhabi-based JV\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598996,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/16\/adnoc-oci-nv-in-talks-to-combine-middle-east-fertilizers-businesses\/","url_meta":{"origin":599090,"position":1},"title":"ADNOC, OCI NV in talks to combine Middle East fertilizers businesses","author":"enterpriseam admin","date":"16 June 2019","format":false,"excerpt":"M&A WATCH- ADNOC, OCI NV said to be in talks to merge Middle East fertilizers businesses: Abu Dhabi National Oil Company (ADNOC) is in talks with Nassef Sawiris\u2019 OCI NV to explore the possibility of merging their Middle East fertilizers businesses, Bloomberg reports, citing unnamed sources. The assets include a\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596653,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/03\/maatouk-bassiouny-legal-counsel-to-adnoc-in-oci-nv-fertilizer-business-merger\/","url_meta":{"origin":599090,"position":2},"title":"Maatouk Bassiouny legal counsel to ADNOC in OCI NV fertilizer business merger","author":"enterpriseam admin","date":"3 July 2019","format":false,"excerpt":"Matouk Bassiouny is acting as local counsel to Abu Dhabi National Oil Company (ADNOC) in the merger of ADNOC fertilizers business into OCI NV\u2019s nitrogen fertilizers production platform in the Middle East and North Africa, the law firm said in a statement (pdf). OCI NV, meanwhile, hired Cleary Gottlieb Steen\u2026","rel":"","context":"In "Law"","block_context":{"text":"Law","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/law\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572924,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/14\/oci-nv-adnoc-could-shutter-fertilizer-plants-on-high-gas-prices\/","url_meta":{"origin":599090,"position":3},"title":"OCI NV, Adnoc could shutter fertilizer plants on high gas prices","author":"enterpriseam admin","date":"14 July 2020","format":false,"excerpt":"OCI NV, Adnoc could shutter Egypt fertilizer plants due to gas prices: High gas prices in Egypt could force OCI NV and the Abu Dhabi National Oil Company (Adnoc) to close all of their fertilizer plants in the country, the companies warned yesterday, according to Youm7. The companies, which last\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":557419,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/e-finance-to-ipo-this-fall\/","url_meta":{"origin":599090,"position":4},"title":"E-Finance to IPO this fall","author":"enterpriseam admin","date":"19 September 2021","format":false,"excerpt":"E-Finance, the state-owned fintech platform and digital payment infrastructure provider could become the second company to IPO on the EGX this year after formally announcing its intention to go ahead with a public share sale in 4Q2021. In an intention to float (pdf) released early this morning, the company revealed\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/245.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":612041,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/17\/oci-to-sell-entire-50-stake-in-fertiglobe-to-adnoc-for-usd-3-62-bn\/","url_meta":{"origin":599090,"position":5},"title":"OCI to sell entire 50% stake in Fertiglobe to Adnoc for USD 3.62 bn","author":"enterpriseam admin","date":"17 December 2023","format":false,"excerpt":"The transaction prices Fetiglobe shares at an 8% premium at AED 3.20 per share","rel":"","context":"In \"ADNOC\"","block_context":{"text":"ADNOC","link":"https:\/\/enterpriseam.com\/egypt\/tag\/adnoc\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1046.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599090","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=599090"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599090\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/599082"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/599091"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=599090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=599090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=599090"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=599090"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=599090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}