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OCI NV to Proceed with Filing Documentation to Complete Exchange Offer for Acquisition of Orascom Construction Industries SAE


Tuesday, 14 May 2013 03:43am EDT 

Orascom Construction Industries SAE (OCI), a subsidiary of OCI NV, announced on May 14, 2013 that it has been advised by OCI NV of its intention to formally proceed with filing all necessary documentation with the relevant Egyptian authorities to complete tender offer for the ordinary shares of OCI listed on the Egyptian Stock Exchange (EGX). OCI NV will offer holders of OCI's outstanding ordinary shares listed on the EGX the option to exchange their shares for OCI NV shares, or, at the election of the relevant holder, a cash alternative of EGP 255 per share. OCI NV has signed extensions to the equity commitments made by participating investors from the United States comprising Cascade Investment, L.L.C., Southeastern Asset Management, and Davis Selected Advisers to fund the cash alternative to shareholders. OCI remains committed to announcing further details related to the offer in due course. 

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