Headquartered in Abu Dhabi, Fertiglobe was formed in 2019 after OCI and ADNOC combined their ammonia and urea assets, with the two companies currently holding ownership stakes of 58% and 42% respectively.
The line up of banks is still not finalised and ADNOC may add more advisors to the deal, according to two of Reuters' sources.
Fertiglobe is expected to be next in line for a listing after ADNOC completes the IPO of its drilling business, one of the sources said. Both the transactions, should they go ahead, will be subject to market conditions and regulatory approval.
Read the latest issue of World Fertilizer in full for free: April 2021
The April issue of World Fertilizer begins with a regional report that examines the opportunities and challenges currently facing Latin America’s fertilizer industry. The remainder of the issue is dedicated to a range of technical articles covering ammonia, blending and bagging, plant design, fertilizer cargo measurement and fertilizer storage. Our World Review of fertilizer projects in Africa and the Middle East, Asia Pacific, Europe and CIS and the Americas rounds off the issue.
Read the article online at: https://www.worldfertilizer.com/nitrogen/27042021/adnoc-and-oci-likely-to-pick-citi-fab-hsbc-for-fertiglobe-ipo/