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Abraaj Capital Swaps OCI Shares For Stake In Dutch Firm
Amwal Al Ghad Published in Amwal Al Ghad on 02 - 02 - 2013

Orascom Construction Industries – OCI (OCIC.CA) announced that UAE-based Abraaj Capital has approved the offer submitted by OCI to swap its 5.95% equity in OCI for shares in the Dutch unit OCI NV.
OCI further noted that Abraaj's nod on the share exchange comes among the 91% of OCI's GDRs holders' approvals which represent 86% of the company's equities. OCI said it has obtained additional commitments representing 4% of the GDRs holders from other contributors. Accordingly, the total amount of swaps in addition to the current commitments from the GDRs holders has reached 95%.
OCI N.V. announced on Friday January 25th, 2013 its first of trading on NYSE Euronext in Amsterdam under the ticker symbol ‘OCI US'.
Cees Vermaas, CEO of NYSE Euronext Amsterdam, said: “We are delighted to welcome OCI to our exchange. Amsterdam is a liquid market with a strong presence of multinational large caps. OCI is a perfect complement to the community here. Our platform will offer OCI consolidated access to global capital markets as well as allow it to create more value for its shareholders."
Diederik Zandstra, Head of Listings Europe of NYSE Euronext added: “ The listing underlines our position as the exchange of choice for international listings and a gateway to European and US capital markets. We look forward to a long-standing partnership with OCI and supporting the company in achieving its goals via our market."
To celebrate the listing, CEO of OCI Nassef Sawiris sounded the gong which denotes the opening of trading on the European markets of NYSE Euronext. He was joined by OCI executives, Bas Pulles, commissioner of Foreign Trade, Rabobank International, listing agent, Allen & Overy, legal advisors, the NYSE Euronext listing team and Cees Vermaas, CEO of NYSE Euronext Amsterdam.
OCI N.V. announced it has launched an exchange offer to acquire all of the outstanding Regulation S global depositary receipts (GDRs) of Orascom Construction Industries, SAE (OCI) in exchange for ordinary shares in OCI N.V. OCI N.V. plans to subsequently launch an ADR program on the New York Stock Exchange.
The transaction consists of two separate, and independent, elements: I. An offer to acquire all of OCI's Regulation S GDRs in exchange for OCI N.V. shares (the GDR Exchange Offer); and II. A mandatory tender offer to acquire all of OCI's ordinary shares in exchange for OCI N.V. shares or cash at EGP 280 per OCI share in compliance with Egyptian regulations (the Share Exchange Offer with a Cash Alternative).
OCI N.V. has obtained commitments in excess of US$ 2 billion from participating investors, including US$ 1 billion from US investors comprising Cascade Investment, L.L.C., an entity wholly owned by Bill Gates, Southeastern Asset Management, and Davis Selected Advisers, to provide the funding required under the Share Exchange Offer with a Cash Alternative to pay shareholders who elect to tender their OCI ordinary shares for cash.

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