Orascom Construction’s shareholders nod for OCI acquisition, $97m capital hike

Cairo -Mubasher: The general assembly meeting of Orascom Construction approved the full acquisition of a wholly owned subsidiary of OCI N.V. (OCI). The subsidiary will be demerged and will hold all of OCI’s material assets and liabilities, according to a bourse filing. The transaction will be executed through the issuance of new Orascom Construction shares at a ratio of 0.46 share per OCI share. Each new share will have a nominal value of $1 and carry an issuance premium of $12.79. Meanwhile, these new shar ...