JOURNAL ARTICLE

OCI to Sell Iowa Unit to Koch Industries for $3.6 Billion.

  • Published In: Bloomberg.com, 2023. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Nair, Dinesh; Porter, Kiel 3 of 3

Abstract

OCI NV, a chemicals company based in Amsterdam, has agreed to sell its US crop nutrient business to Koch Industries for $3.6 billion. This sale comes after OCI announced last week that it would sell its half of the crop-nutrient business Fertiglobe Plc to Abu Dhabi National Oil Co. for the same amount. The divestitures by OCI are part of a trend among European companies to shed businesses in order to increase their stock valuations. OCI plans to use the proceeds from the sale to repay debt, distribute to shareholders, and explore acquisitions in the energy transition sector. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2023/12, pN.PAG
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2023
  • Accession Number:174293872
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