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OCI N.V. Acquires 97.44% Of Orascom Construction Industries SAE


Monday, 29 Jul 2013 02:00am EDT 

OCI N.V. announced that as of the closing filings on July 28, 2013, OCI N.V. expects to own 97.44% of Orascom Construction Industries SAE corresponding to 201,616,948 as a result of the tender offer launched on June 27, 2013. The remaining shares in OCI S.A.E. include 0.47% in Global Depository Receipts (GDRs) on the London Stock Exchange, 0.51% in American Depository Receipts (ADRs) on the New York Stock Exchange, and 1.58% on the Egyptian Stock Exchange. A total of 15,714,488 shares, representing 31.31% of the offer size have elected to convert into OCI N.V. A total of 29,180,180 shares, representing 58.13% of the offer size, have elected the cash offer. OCI N.V.'s shares outstanding now total 201,616,948 shares, including 87,333,575 shares of free float, representing 43.32%. Settlement of the cash and share elections will be completed in five business days.