OCI Global Sells 50 % Stake in Fertiglobe to Adnoc

Business OCI Global Sells 50 % Stake in Fertiglobe to Adnoc

2023-12-20 Source: Press release OCI Global 1 min Reading Time

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Adnoc has recently acquired OCI Global’s 50 % stake in Fertiglobe. Adnoc and OCI also revealed their future plans of exploring opportunities for global strategic collaboration.

Headquartered in Abu Dhabi, Fertiglobe was formed as a strategic partnership between OCI and Adnoc in September 2019.(Source: Pixabay) — Headquartered in Abu Dhabi, Fertiglobe was formed as a strategic partnership between OCI and Adnoc in September 2019.
(Source: Pixabay)

Amsterdam/Netherlands – OCI Global has recently announced the sale of its 50 % stake in Fertiglobe to Abu Dhabi National Oil Company (Adnoc), fully exiting and monetizing its entire equity stake. Following completion of the transaction, Adnoc’s shareholding in Fertiglobe will increase to 86.2 % while the free float traded on the Abu Dhabi Securities Exchange (ADX) will remain at 13.8 %.

Separately, Adnoc and OCI have today announced a roadmap to explore opportunities for global strategic collaboration on future joint investments including but not limited to, development projects outside the Middle East in decarbonization and product distribution across North America and Europe. This roadmap builds upon the collaborative and successful partnership between Adnoc and OCI formed with the creation of Fertiglobe in 2019 and demonstrated by its successful landmark initial public offering (IPO) in 2021.

Headquartered in Abu Dhabi, Fertiglobe was formed as a strategic partnership between OCI and Adnoc in September 2019, with a subsequent listing on the ADX in 2021. The value-added partnership created a first-mover innovative export platform with best-in-class cash conversion metrics throughout the commodity cycle. Fertiglobe today is the world’s largest seaborne exporter of ammonia. Since the IPO, Fertiglobe has returned 2.065 billion dollars of dividends to shareholders and has been one of the best performers on the ADX on a Total Shareholder Return basis of more than 50 %.

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