{"id":653397,"date":"2024-10-16T00:00:00","date_gmt":"2024-10-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/16\/adnoc-completes-acquisition-of-ocis-stake-in-fertiglobe\/"},"modified":"2024-10-16T00:00:00","modified_gmt":"2024-10-16T00:00:00","slug":"adnoc-completes-acquisition-of-ocis-stake-in-fertiglobe","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/16\/adnoc-completes-acquisition-of-ocis-stake-in-fertiglobe\/","title":{"rendered":"Adnoc completes acquisition of OCI\u2019s stake in Fertiglobe"},"content":{"rendered":"

That\u2019s a wrap on Adnoc\u2019s Fertiglobe acquisition: <\/strong>Nassef Sawiris-owned chemical producer OCI has sold its entire 50% stake in ammonia and urea producer Fertiglobe to the Abu Dhabi National Oil Company (Adnoc) in a USD 3.62 bn transaction, according to statements from the buyer (pdf)<\/a> and the seller<\/a>. The transaction pushes Adnoc\u2019s stake in Fertiglobe to 86.2%, with the remaining 13.8% free floating on the ADX. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

Remember: <\/strong>The two companies inked a binding agreement<\/a> for the sale in December. Adnoc secured the necessary approvals to move forward with the transaction earlier this week<\/a>.<\/p>\n

What this means for Fertiglobe: <\/strong>Adnoc is set to integrate its domestic and global low-carbon ammonia projects into Fertiglobe to more than double the firm\u2019s ammonia project capacity. Fertiglobe will retain its management team, including CEO Ahmed El Hoshy, who will depart his role as OCI CEO. <\/p>\n

Fertiglobe has a big presence in Egypt: <\/strong>Fertiglobe shipped the world\u2019s first ISCC<\/a>PLUS-certified green ammonia<\/a> to India from its green hydrogen electrolyzer in Egypt last year. The company also recently secured a EUR 397 mn offtake agreement<\/a> that will see it supply Germany\u2019s H2Global with up to 19.5k tons of green ammonia annually beginning in 2027 \u2014 the Egypt Green Hydrogen project will supply the green hydrogen needed for the project. <\/p>\n","protected":false},"excerpt":{"rendered":"

The transaction increases Adnoc\u2019s stake in Fertiglobe to 86.2%<\/p>\n","protected":false},"author":1,"featured_media":653398,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[1703,72,1585,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-653397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-adnoc","tag-enterpriseam","tag-fertiglobe","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"69cd7180-d456-4bdc-8837-d12b146918ff","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/559.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Adnoc completes acquisition of OCI\u2019s stake in Fertiglobe","related_issue":[653387],"teaser":"The transaction increases Adnoc\u2019s stake in Fertiglobe to 86.2%","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.eb9c23c6-ff0c-4054-ac84-4a8f923a5b1e.mp3"},"yoast_head":"\nAdnoc completes acquisition of OCI\u2019s stake in Fertiglobe - 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\/2024\/10\/16\/adnoc-completes-acquisition-of-ocis-stake-in-fertiglobe\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Adnoc completes acquisition of OCI\u2019s stake in Fertiglobe\" \/>\n<meta property=\"og:description\" content=\"The transaction increases Adnoc\u2019s stake in Fertiglobe to 86.2%\" \/>\n<meta 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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":[]},{"id":612203,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/19\/oci-to-sell-iowa-fertilizer-company-for-usd-3-6-bn\/","url_meta":{"origin":653397,"position":1},"title":"OCI to sell Iowa Fertilizer Company for USD 3.6 bn","author":"enterpriseam admin","date":"19 December 2023","format":false,"excerpt":"The sale proceeds will help reduce OCI\u2019s debt","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A 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"Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/945.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":606627,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/19\/fertiglobe-ad-ports-sign-non-binding-agreement-for-storing-ammonia-urea-in-egypts-ports-plus-network-international-and-ecards-are-collaborating-on-digital-cards\/","url_meta":{"origin":653397,"position":3},"title":"Fertiglobe, AD Ports sign non-binding agreement for storing ammonia, urea in Egypt\u2019s ports. PLUS: Network International and eCards are collaborating on digital cards","author":"enterpriseam admin","date":"19 September 2023","format":false,"excerpt":"Fertiglobe will soon be producing and exporting green ammonia from Egypt","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1190.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":653438,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/16\/domty-shares-up-20-following-arla-acquisition-news\/","url_meta":{"origin":653397,"position":4},"title":"Domty shares up 20% following Arla acquisition news","author":"enterpriseam admin","date":"16 October 2024","format":false,"excerpt":"Good afternoon, everyone, and a happy almost-weekend to you all. The weather is finally seeing a downturn in temperature, with clear skies and cool breezes in our future.THE BIG STORY TODAY Domty shares up 20.0% following news of Arla acquisition: Domty\u2019s incoming acquisition by Danish Arla Foods for up to\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1277.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556026,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/06\/sawiris-backed-fertiglobe-to-list-on-adx-next-month\/","url_meta":{"origin":653397,"position":5},"title":"Sawiris-backed Fertiglobe to list on ADX next month","author":"enterpriseam admin","date":"6 October 2021","format":false,"excerpt":"Sawiris-backed Fertiglobe to go public in Abu Dhabi this month: Nassef Sawiris-backed chemical producer OCI and Abu Dhabi National Oil Company (Adnoc) yesterday announced their intention to offer a 13.8% stake in their joint venture Fertiglobe on the ADX later this month. The listing could value the company at around\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/653397","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=653397"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/653397\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/653387"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/653398"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=653397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=653397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=653397"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=653397"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=653397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}