OCI To Finalize Demerger Process In November

Orascom Construction Industries  – OCI (OCIC.CA) said the Group will be finalizing the actual demerger process between its construction activities and its fertilizer arm within the coming November.

Omar Derwaza, Head of Investor Relations at OCI,  said the Group has finalized all the necessary procedures for the demerger. OCI had completed outlining the demerger mechanisms alongside the situation of its two activities (Construction and Fertilizer) after the final demerger, Derwaza added.

Derwaza has also stated that OCI plans to finalize its demerger process with the coming November proceeded by the launch of the two firms; the Demerging Company (OCI Fertilizers) and the Demerged Company (Orascom Engineering and Construction).

The Group will inform the Egyptian Financial Supervisory Authority (EFSA) of any further updates about the demerger process, he noted.