Orascom Construction Extends OCI Merger Deadline to December 2026 Following NNS Acquisition Offer
Orascom Construction PLC has announced an update regarding its proposed merger with OCI Global N.V., stating that the deadline to fulfill the required conditions for the transaction has been extended until December 30, 2026.
According to a regulatory disclosure submitted to the Egyptian Exchange (EGX), OCI is actively working on satisfying these conditions. This includes convening an Extraordinary General Meeting (EGM) for OCI shareholders to officially vote on the proposed merger.
Acquisition Tender and Timeline Updates
The disclosure also revealed that NNS Holding (Cyprus) Limited, a subsidiary of the private NNS Group founded by prominent businessman Nassef Sawiris, has submitted an optional cash tender offer to acquire all shares of OCI at a price of €4.10 per share. The offer has been presented to the Dutch Authority for the Financial Markets (AFM) for regulatory approval.
Orascom Construction anticipates that OCI will finalize these combined regulatory and corporate procedures during the fourth quarter (Q4) of 2026.
Share Swap Ratios Reaffirmed
The company confirmed that, following the prior approval of Orascom Construction’s shareholders during the EGM held on January 22, 2026, the share swap ratio remains completely unchanged. The transaction will proceed at:
$$\text{Swap Ratio} = 0.4634 \text{ Orascom Construction Shares} : 1 \text{ OCI Global Share}$$
Orascom Construction stated it will continue to provide progressive updates as further details emerge. The initial merger agreement between the two entities was announced last December, aimed at establishing a leading global infrastructure and investment platform.
Impressive Financial Performance
On the financial front, Orascom Construction PLC reported stellar growth for the first quarter (Q1) of 2026. Net profit attributable to shareholders surged by 114%, climbing to $58 million compared to $27.1 million recorded during the corresponding period in 2025, factoring in minority interests.