OCI Board Backs EUR 4.10 Cash Offer from NNS Holding

The recommendation follows an extensive strategic review and a period of prolonged negotiation between OCI and NNS. While the board advises shareholders to weigh the cash offer against the ongoing Orascom Combination, they highlight that the EUR 4.10 price represents a premium over recent market performance, including a 9% increase over the June 24 undisturbed closing price of EUR 3.76.

Court-appointed directors, who were installed by the Enterprise Chamber earlier this year to protect minority interests, have cleared the path for an extraordinary general meeting to finalize the Orascom deal. Their support is contingent on the successful completion of the NNS offer, which they view as a vital liquidity option for shareholders. Independent assessments from AXECO and Rothschild & Co deemed the cash offer fair, noting that a solvent wind-down—the only other primary alternative—would be a protracted process extending to 2031 with significant tax implications and lower net returns for investors.