Orascom Construction Confirms Shareholders’ Meeting to Proceed as Scheduled
Orascom Construction PLC, listed on the Abu Dhabi Securities Exchange and the Egyptian Exchange (ORAS), confirmed that its extraordinary general assembly meeting scheduled for tomorrow will be held as planned with no changes.
In a disclosure to the Egyptian Exchange, the company stated that the meeting’s agenda includes a vote on the proposed merger with OCI Global, listed on Euronext under the symbol (OCI), in accordance with the terms and conditions outlined in the shareholders’ circular and the notice of the general assembly published on December 11, 2025.
The company noted that the proposed merger is supported by Sustainable Capital Africa Alpha Fund, the largest shareholder after the Sawiris family, holding 17.1% of the issued share capital.
Commenting on the decision, Greg Barker, Co-Founder and Managing Partner of Sustainable Capital, said:
“Despite our reservations regarding the share exchange ratio between Orascom Construction and OCI, we have decided to support the proposed merger, given our confidence in the long-term potential of the combined entity.”
It is worth noting that a Dutch court previously suspended the vote on the proposed merger between OCI Fertilizers, listed in Amsterdam, and Orascom Construction.
The Amsterdam court ruled that the shareholder vote could not proceed at this stage and appointed two non-executive board members to assess whether the merger proposal was properly prepared.
The ruling followed a lawsuit filed by the Dutch investors’ association VEB and Norbury Capital, one of OCI’s shareholders, after the company declined earlier requests to cancel the vote.