Arab Finance: Orascom Construction noted that the long-stop date for meeting certain conditions related to the proposed combination with OCI Global N.V (OCI) has been extended to December 30th, 2026, as per a bourse disclosure.
OCI is making progress towards fulfilling these conditions, including the convocation of an Extraordinary General Meeting (EGM) of OCI shareholders to vote on the transaction.
Meanwhile, Cyprus-based NNS Holding, owned by Egyptian billionaire Nassef Sawiris, confirmed its intention to proceed with a voluntary all-cash public offer for all OCI shares at €4.10 per share. NNS has already submitted its draft Offer Memorandum to the Dutch Authority for Financial Markets (AFM) for regulatory approval.
Orascom Construction expects OCI to complete its process in the fourth quarter (Q4) of 2026.
The company also confirmed that the share exchange ratio approved by the EGX-listed company's shareholders at the EGM held on 22 January 2026 remains unchanged at 0.4634 Orascom Construction shares for each OCI share.