Egyptian billionaire Nassef Sawiris has successfully taken majority control of OCI Global, pushing his family’s total ownership past the 55% mark.
The move is a major step forward in his ongoing plan to buy out remaining investors and take the Amsterdam-listed firm entirely private.
Operating through his Cyprus-based investment vehicle, NNS Holding, North Africa's wealthiest individual recently acquired an additional block of shares at an average price of 4.0790 euros each.
This push puts the Sawiris family in command of more than 116.5 million shares, securing a definitive 55.13 percent majority stake in the company.
The transaction is part of a broader, all-cash takeover bid valued at 4.10 euros per share, which values the chemical entity at approximately 866.6 million euros (roughly $945 million USD).
