MergerLinks Header Logo

Announced

ADNOC and OCI to form Joint Venture, creating new Global Nitrogen Fertilizer Leader.

Synopsis

The Abu Dhabi National Oil Company formed a new strategic partnership with OCI, a global producer and distributor of natural gas-based fertilizers and industrial chemicals. Financial terms were not disclosed. The JV will become the largest export-focused nitrogen fertilizer platform globally and the largest producer in the MENA region with a production capacity of 5m tons of urea and 1.5m tons of sellable ammonia. Annual revenues for the combined entity are $1.74bn, based on 2018 pro forma figures. ADNOC and OCI will own a 42% and 58% stake in the JV respectively. "This partnership creates a first-of-its-kind export platform with best-in-class cash conversion metrics. I believe that this platform has significant potential for future growth and value creation, with the support and under the guidance of its two key shareholders” Nassef Sawiris, OCI CEO.

Show Details & Financials

Market Context

Sort

Search a database of more than 250,000 verified dealmakers

Receive automated updates on global transactions

Follow the activity, relationships and transactions of top dealmakers

No credit card required

© COPYRIGHT 2024 MERGERLINKS LIMITED.

ALL RIGHTS RESERVED.

15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.

CONTACT US