ADNOC completed the acquisition of an additional stake in Fertiglobe from OCI Global for $3.62bn.

The Abu Dhabi National Oil Company, the state-owned oil company of the United Arab Emirates, completed the acquisition of an additional stake in Fertiglobe, the world’s largest seaborne exporter of urea and ammonia combined, from OCI Global, a producer and distributor of natural gas-based fertilizers and industrial chemicals, for $3.62bn. "Today's successful completion marks a significant juncture in Fertiglobe's journey, and a pivotal moment in OCI's highly successful partnership with ADNOC. I am confident that the Fertiglobe platform under ADNOC's stewardship is firmly positioned for future value creation, driven by new decarbonisation opportunities and incremental demand for low-carbon solutions in our global markets. Ahmed's track record is impressive, having played a key role in both OCI and Fertiglobe's growth in the last few years, making him an ideal fit for Fertiglobe's next phase of development," Nassef Sawiris, OCI Executive Chairman.