Abu Dhabi National Oil Company and its business partner OCI are preparing for a potential listing of Fertiglobe, their fertiliser manufacturing joint venture.
Adnoc holds a 42 per cent stake in the company, known as Fertiglobe, with OCI retaining the majority 58 per cent interest. OCI is listed on the Euronext Amsterdam exchange and has Egyptian billionaire Nassef Sawiris as its biggest shareholder. Microsoft founder Bill Gates also owns a 6 per cent stake in the company.
“Adnoc regularly assesses investment and partnership opportunities across its entire value chain and is currently exploring a number of potential opportunities, including a potential listing of Fertiglobe, our fertiliser JV business with OCI," a spokesman for the company said in a statement.
The export-focused nitrogen fertiliser business was formed in 2019 following the merger of Adnoc's fertiliser arm and OCI's Middle East nitrogen fertiliser business. Fertiglobe is headquartered at the Abu Dhabi Global Market. Dr Sultan Al Jaber, Adnoc group chief executive and managing director is chairman of the company.
“In less than two years, a global fertiliser player was created, based in Abu Dhabi," the Adnoc spokesman said.
No comments:
Post a Comment