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Orascom Construction PLC (ORAS) announced that its general assembly meeting will take place tomorrow as scheduled, despite recent legal developments surrounding the proposed merger with OCI Global.

In a filing to the Egyptian Exchange, the company confirmed that shareholders will vote on the merger proposal under the terms disclosed in the shareholders’ booklet and meeting notice dated December 11, 2025.

The construction firm highlighted that the transaction is backed by Sustainable Capital Africa Alpha Fund, the company’s largest institutional shareholder after the Sawiris family, with a 17.1% ownership stake.

Greg Barker, Co-Founder and Managing Partner of Sustainable Capital, stated:
“Although we have concerns regarding the share swap ratio, we believe the strategic merits and long-term value of the merged group justify supporting the transaction.”

The announcement comes after a Dutch court halted voting on a related merger involving OCI’s fertilizer business, appointing two independent non-executive directors to review the legal soundness of the proposal.

The court decision followed legal action initiated by the Dutch shareholder association VEB and Norbury Capital, an OCI shareholder, after previous demands to cancel the vote were not addressed.