OCI to sell 50% of Geleen nitrogen arm to Agrofert in staged exit

OCI Global has agreed to sell 50% of its remaining operating business, OCI Nitrogen in Geleen, to Czech group Agrofert in a staged transaction that paves the way for a full exit from European fertilizer production. The deal builds on OCI’s earlier disposals, detailed in a previous article on its strategic sell‑off and exit from Methanex, which together have raised around $11.6 billion since 2023 and left the Amsterdam‑listed producer focused on completing its divestment programme.

Under the agreement, OCI will divest half of Nitrogen Intermediate Holding B.V., which owns 100% of OCI Nitrogen, for a purchase price based on 50% of €110 million ($119 million), subject to net debt and transaction cost adjustments. Completion of this initial transaction is targeted for the second half of 2027, pending regulatory clearances and approval by OCI N.V. shareholders at an extraordinary general meeting. Once closed, Agrofert will take operational control of the Geleen business, including majority board representation, while OCI retains a 50% economic interest and standard joint‑venture protection rights.