- OCI Global announces successful completion of the sale of its 50% equity interest in Fertiglobe to Abu Dhabi National Oil Company
- The transaction was valued at USD 3.62 billion on a cash-free debt-free basis (the "Purchase Price") and allows OCI to fully exit and monetize its entire equity stake in Fertiglobe
- The closing marks a significant milestone in OCI's strategy to unlock value for shareholders
- Mr. Ahmed El-Hoshy is re-appointed Chief Executive Officer of Fertiglobe effective 15 October 2024
Fertiglobe's BoD has re-appointed Mr. Ahmed El-Hoshy to the role of Chief Executive Officer, effective 15 October 2024. Mr. El-Hoshy has been CEO of Fertiglobe since 2021, playing a critical role in preparing Fertiglobe for its IPO, successfully navigating commodity market cycles, and leading Fertiglobe's consolidation with ADNOC to create a global leader in low-carbon ammonia. Fertiglobe's wider executive leadership remains in place.
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