Saudi Arabia’s SABIC Agri-Nutrients Plans to Buy 49% of ETG Inputs Holdco

Business

January 24th, 8:26am

Asharq Al-Awsat

SABIC Agri-Nutrients said it had signed a binding agreement to acquire a 49% stake in ETG Inputs Holdco LTD. (Reuters)

Saudi Arabian fertilizers maker SABIC Agri-Nutrients said on Monday it had signed a binding agreement to acquire a 49% stake in ETG Inputs Holdco LTD. ETG Inputs Holdco blends and distributes fertilizers, seeds and agro-chemicals directly to farmers and customers in several countries in Africa, according to information on its website. The transaction is based on an enterprise value of $320 million, and subject to regulatory approvals and other terms and conditions, SABIC Agri-Nutrients said in a regulatory disclosure. The company said it will finance the acquisition through company's resources, in addition to bank facilities.

from Asharq AL-awsat https://english.aawsat.com/home/article/3432846/saudi-arabia%E2%80%99s-sabic-agri-nutrients-plans-buy-49-etg-inputs-holdco