6 August 2015
Tony Will
President and chief executive officer
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DETAILS
CF Industries Holdings, Inc. (NYSE:CF) and
OCI N.V. (NYSE Euronext:OCI)
announced today that they have entered into
a definitive agreement under which
CF will combine with OCI’s European, North American and
Global Distribution businesses in a transaction valued at
approximately $8 billion,
based on CF’s current share price,
including the assumption of approximately $2 billion in net debt.
The transaction, which has been unanimously approved by
the boards of directors of both companies, will create
the world’s largest publicly traded nitrogen company.
The transaction includes
* OCI’s nitrogen production facilities in
Geleen, Netherlands, and Wever, Iowa, and
* the company’s interest in an ammonia and methanol complex
in Beaumont, Texas, along with
* its global distribution business based in Dubai, United Arab Emirates.
The combined entity will also purchase a 45 percent interest
plus an option to acquire the remaining interest
in OCI’s Natgasoline project in Texas, which upon completion in 2017
will be one of the world’s largest methanol facilities.
On a combined basis the company will have production capacity of
approximately 12 million nitrogen-equivalent nutrient tons
by mid-year 20161.
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