{"id":612203,"date":"2023-12-19T00:00:00","date_gmt":"2023-12-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/19\/oci-to-sell-iowa-fertilizer-company-for-usd-3-6-bn\/"},"modified":"2023-12-19T00:00:00","modified_gmt":"2023-12-19T00:00:00","slug":"oci-to-sell-iowa-fertilizer-company-for-usd-3-6-bn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/19\/oci-to-sell-iowa-fertilizer-company-for-usd-3-6-bn\/","title":{"rendered":"OCI to sell Iowa Fertilizer Company for USD 3.6 bn"},"content":{"rendered":"

OCI announces second USD 3.6 bn sale in as many weeks: <\/strong>Nassef Sawiris-owned chemicals producer OCI Global<\/a> has inked a binding agreement to sell its wholly-owned subsidiary Iowa Fertilizer Company<\/a> (IFCo) to Koch Ag & Energy Solutions<\/a> for USD 3.6 bn, OCI said in a statement (pdf)<\/a>. The sale marks the second exit by the Netherlands-based company in a few days time \u2014 OCI recently announced that it is offloading its entire 50% stake in Fertiglobe. <\/p>\n

The rationale: <\/strong>Sale proceeds will help \u201csignificantly\u201d reduce OCI\u2019s debt, which stood at USD 2.3 bn at the end of 3Q 2023. The transaction will also allow the company to \u201cdeliver a capital return to shareholders\u201d and explore green opportunities \u201cbuilding on its early mover lower-carbon ammonia and green methanol platforms.\u201d The sale is expected to close next year. <\/p>\n

ICYMI:<\/strong> OCI announced last week that it would offload its entire 50% stake<\/a> in ammonia and urea producer Fertiglobe to Abu Dhabi\u2019s oil giant Adnoc for USD 3.62 bn.<\/p>\n

What this means? <\/strong>\u201cThis [IFCo sale], in combination with the divestment of its Fertiglobe stake implies OCI will be meaningfully net cash, with significant potential to both return cash to shareholders and fund decarbonisation projects,\u201d Jefferies analysts said in a note cited by Reuters<\/a>. Meanwhile, Bloomberg<\/a> suggests that OCI is jumping on the trend of European firms dumping businesses in efforts to bolster their stock valuations. <\/p>\n

It seems to have worked: <\/strong>Euronext-listed OCI\u2019s shares jumped around 20.9% yesterday to close at EUR 24.32 per share.<\/p>\n

Advisors: <\/strong>Morgan Stanley is OCI\u2019s financial advisor on the transaction, while Cleary Gottlieb Steen & Hamilton is acting as legal advisor.<\/p>\n","protected":false},"excerpt":{"rendered":"

The sale proceeds will help reduce OCI\u2019s debt<\/p>\n","protected":false},"author":1,"featured_media":612204,"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":[7363],"tags":[72,7128,3388,7124],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-612203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam","tag-ma-watch","tag-nassef-sawiris","tag-oci-global","wpautop","entry"],"acf":{"mongo_id":"f9b2594f-beec-449f-ba31-ba6929e38a3e","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/1215.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Sawiris-backed OCI is selling subsidiary Iowa Fertilizer Company for USD 3.6 bn","related_issue":[612196],"teaser":"The sale proceeds will help reduce OCI\u2019s debt","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.00428873-72a3-415c-ae23-8f4c463cd17d.mp3"},"yoast_head":"\nOCI to sell Iowa Fertilizer Company for USD 3.6 bn - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/19\/oci-to-sell-iowa-fertilizer-company-for-usd-3-6-bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OCI to sell Iowa Fertilizer Company for USD 3.6 bn\" \/>\n<meta property=\"og:description\" content=\"The sale proceeds will help reduce OCI\u2019s debt\" \/>\n<meta property=\"og:url\" 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to make it the company\u2019s second largest shareholder","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/451.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":672334,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/23\/sawiris-backed-orascom-construction-oci-global-plan-merger-to-form-infrastructure-and-investment-giant\/","url_meta":{"origin":612203,"position":1},"title":"Sawiris-backed Orascom Construction, OCI Global plan merger to form infrastructure and investment giant","author":"enterpriseam admin","date":"23 September 2025","format":false,"excerpt":"The proposal would see Orascom absorb and delist OCI","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A 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