Abu Dhabi National Oil Company (ADNOC) announced that its acquisition of OCI’s 50% + 1 share stake in Fertiglobe, which was announced in December 2023, has received all required approvals and is expected to close on Tuesday, October 15, 2024. 

Ahead of closing, a block trade will be initiated on the Abu Dhabi Securities Exchange (ADX), Friday, October 11, 2024, which will settle on Tuesday, October 15, 2024. 

Following the completion of the transaction, ADNOC’s shareholding in Fertiglobe will increase to 86.2% while the free float traded on ADX will remain at 13.8%.

Fertiglobe management will host an investor and analyst webcast on Tuesday, October 15, 2024, where the company’s vision to unlock further growth and value will be presented.