Saudi news

SABIC Nutrients expects to acquire 49% of ITG in the first half of 2023.

SABIC Agro-Nutrients Company said today, Thursday, that it is working to meet the regulatory requirements to complete the acquisition of a 49% stake in ETG Inputs Holdco.

And “SABIC Nutrients” expected, in a statement on “Saudi Tadawul”, to complete the acquisition, and that the financial impact of the acquisition would appear during the first half of 2023.

SABIC Nutrients has announced that it has signed a binding agreement to acquire 49% of the capital of ITG Inpts Holdco Limited, for a total value of $320 million, equivalent to 1.2 billion riyals, based on the exclusion of cash and debt balances and the change in the value of working capital, which It will be determined when the transaction is completed.

ITG INPUTS Holdco Limited is a limited liability company working in the field of mixing and distributing agricultural fertilizers “agri-nutrients”, where its sales are concentrated to farmers and the final customer in a number of African countries.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button