On 16 February 2015, OCI N.V. announced that it formally commenced proceedings to effect a demerger of the company’s engineering and construction business from its fertilizer and chemicals business (the Demerger), which was previously announced by the Board of Directors on 6 November 2014. The Demerged entity holding the engineering and construction activities is called Orascom Construction Limited (Orascom Construction).
The Demerger was effected through a USD 1.4 billion reduction in OCI N.V.’s share capital whereby OCI N.V. shareholders received one Orascom Construction share for every two OCI N.V. shares they owned as at close of trading on 6 March 2015.
The Demerger resulted in OCI N.V. continuing to be listed on the Euronext Amsterdam as a global producer of nitrogen fertilizers, methanol and other natural gas based chemical products.
Orascom Construction is dually listed on NASDAQ Dubai and the EGX as a global engineering and construction company.