ADNOC has acquired OCI Global’s 50% + 1 shareholding in Fertiglobe, increasing its share in the company to 86.2%, with 13.8% remaining in free float on the Abu Dhabi Securities Exchange.
Fertiglobe is the world’s largest seaborne exporter of urea and ammonia combined, exporting to 53 countries with a 10% collective market share of global trade in these products.
Dr. Sultan Ahmed Al Jaber, ADNOC managing director and group CEO says: ‘Fertiglobe is a world-class company, and it will be the vehicle through which ADNOC advances its low-carbon ammonia business, supporting our efforts to enable a just, orderly, and equitable global energy transition.’
Ahmed El-Hoshy, CEO of Fertiglobe, adds: ‘Positioned as the vehicle of ADNOC’s plans to establish a global growth platform for ammonia, Fertiglobe is poised to meet the increasing global demand for low-carbon solutions and bring us closer to a more sustainable future.’
