Abu Dhabi, December 15, 2023 (Xinhua) – Abu Dhabi National Oil Company (ADNOC) announced its acquisition of the entire stake of OCA in Vertiglob, which is the world’s largest marine exporter of urea and ammonia, for 13.28 billion dirhams (3.62 billion dirhams). Billion dollar).
ADNOC confirmed in a statement that it has completed the acquisition of OCA’s stake in Vertiglob, which is listed on the Abu Dhabi Securities Market under the symbol FERTIGLB.
Vertiglobe is the largest producer of nitrogen fertilizers in the Middle East and North Africa, and a pioneer in the field of sustainable ammonia.
The company owns production facilities in the UAE, Egypt and Algeria, and pursuant to the acquisition agreement, ADNOC becomes the shareholder that owns the majority stake in Vertiglobe.
ADNOC said in its statement, “The acquisition reinforces the company’s ambitious strategy to grow its business in the chemicals field, and enhances its plans to create a global growth platform for ammonia production.” /end of news/
2023-12-17 01:23:20
#UAEs #ADNOC #acquires #OCAs #stake #Vertiglob #billion
