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Thndr Claps » Saudi Claps » Industrials 🏗 » SABIC Agri-Nutrients close to acquiring 49% of ETG 👀

SABIC Agri-Nutrients close to acquiring 49% of ETG 👀

by Omar El Shorafa
December 29, 2022

The Clap
SABIC Agri-Nutrients (2020) is working to meet the regulatory requirements to complete the acquisition of a 49% stake in ETG.

What
SABIC Agri-Nutrients expects to complete the acquisition during H1 2023 and the deal’s financial impact to reflect during that same period.

So What
SABIC Agri-Nutrients signed a binding agreement to acquire 49% of ETG for a total of $320mn, equivalent to SAR 1.2bn, excluding cash and debt balances and the change in working capital, which will be determined upon completion of the transaction.

Now What
ETG specializes in the blending and distributing of agricultural fertilizers (agri-nutrients), with sales concentrated on farmers and end customers in several African countries.

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