NNS Launches Voluntary Cash Offer for OCI Shares to Resolve Impasse

The offer period, which commences on September 15, 2026, and runs through November 17, 2026, follows a period of significant tension regarding OCI’s strategic direction. Earlier this year, the Enterprise Chamber intervened in the company’s affairs, suspending the Rembrandt II deal after investors raised concerns over the lack of a cash exit option for those unwilling to transition into Orascom shares. NNS, already OCI’s majority shareholder with a 57.32% stake, is stepping in to break this impasse.

While the OCI board has recommended the offer, the process remains distinct from the ongoing Rembrandt II negotiations. NNS has secured irrevocable non-tender undertakings from members of the Sawiris family representing approximately 9.07% of the company's capital, ensuring their continued involvement. If the offer is declared unconditional, NNS intends to facilitate the completion of the Rembrandt II project, though it maintains that it may pursue alternative restructuring measures if the primary transaction fails to materialize. The company expects to settle the offer in the fourth quarter of 2026, pending the satisfaction of conditions outlined in the official offer memorandum.