ADNOC to close acquisition of controlling stake in Fertiglobe

Abu Dhabi National Oil Company P.J.S.C. (ADNOC) announced today that its acquisition of OCI's 50% + 1 share stake in Fertiglobe, which was announced in December 2023, has received all required approvals and is expected to close on Tuesday, 15th October 2024. Ahead of closing, a block trade will be initiated on the Abu Dhabi Securities Exchange (ADX) today, Friday, 11th October 2024, which will settle on Tuesday, 15th October. Following the completion of the transaction, ADNOC's shareholding in Fertiglobe will increase to 86.2%, while the free float traded on ADX will remain at 13.8%. Fertiglobe management will host an investor and analyst webcast on Tuesday, 15th October, where the company's vision to unlock further growth and value will be presented. Details of the webcast will be announced by Fertiglobe in due course. Source: Emirates News Agency