18 Dec, 23

ADNOC’s Acquisition Spree Continues with Fertiglobe

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Abu Dhabi’s national oil company ADNOC has stepped up its acquisition spree, acquiring Dutch-Egyptian chemical giant OCI Global’s majority stake in fertilizer producer Fertiglobe for $3.62 billion. ADNOC’s equity stake in Fertiglobe is set to increase to 86.2%, with the deal maintaining a 13.8% free float on the Abu Dhabi Securities Exchange. The acquisition aligns with ADNOC’s global expansion plans in petrochemicals, reinforcing its commitment to Fertiglobe’s growth. Simultaneously, ADNOC and OCI have signed an MoU to explore cooperation on future…

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