Abu Dhabi – Mubasher: Abu Dhabi National Oil Company (ADNOC) obtained the required approvals to acquire OCI Global’s 50% + 1 share stake in Fertiglobe, according to a press release.
The transaction, which was disclosed in December 2023, is expected to close on Tuesday, 15 October 2024.
Following the completion of the transaction, ADNOC’s shareholding in Fertiglobe will increase to 86.20% while the free float traded on the Abu Dhabi Securities Exchange (ADX) will remain at 13.80%.
In the first half (H1) of 2024, Fertiglobe logged net profits valued at $197 million, compared to $297.20 million in H1-23.
