Marubeni: to buy Gavilon for about 3,6 billion USD

Cairo / EG. (oci) Orascom Construction Industries (OCI) announced that its wholly-owned subsidiary OCI Fertilizer Holding has agreed to sell its 16,8 percent stake in the Gavilon Group LLC to Japanese trading house Marubeni Corporation. Proceeds from the transaction amount to approximately 604,8 million USD. Marubeni valued 100 percent of Gavilon´s equity at 3,6 billion USD. OCI initially paid 340 million USD for their stake in July 2008. The transaction is expected to close by September and OCI will use the cash proceeds to finance its Fertilizer Group expansion strategy in North America and potentially invest in other opportunities under review. In addition, part of the proceeds will be returned to shareholders. The Fertilizer Group will maintain its existing relationship with Gavilon under the new ownership of Marubeni in marketing fertilizer products in North America. Details about the transaction are published on marubeni.com.

About: Orascom Construction Industries (OCI) is one of Egypt´s largest corporations employing more than 72’000 people in 35 countries around the globe. The OCI Fertilizer Group owns and operates nitrogen fertilizer plants in Egypt, the Netherlands, the United States, and Algeria and has an international distribution platform spanning from the Americas to Asia. The OCI Fertilizer Group ranks among the world´s top fertilizer producers with a production capacity which will exceed 7,0 million metric tons in 2012. The OCI Construction Group provides international engineering and construction services primarily on infrastructure, industrial and high-end commercial projects in Europe, the Middle East and North Africa for public and private clients. The OCI Construction Group ranks among the world´s top global contractors.
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