Riyadh – Mubasher: SABIC Agri-Nutrients Company has reached a binding agreement to acquire a 49% stake in the share capital of ETG Inputs Holdco in exchange for $320 million (SAR 1.2 billion).
Subject to the required regulatory approvals, the acquisition will be financed by the company’s resources alongside banking facilities, according to a bourse filing on Monday.
The transaction's financial impact is expected to be registered during the second half (H2) of 2022.
ETG Inputs Holdco is specialised in the field of blending and distribution of agri-nutrients products to sell them directly to farmers and end customers in several countries in Africa.
Hence, the transaction comes in line with SABIC Agri-Nutrients' plan to integrate the value chain to include blending and distribution of agri-nutrients across the global markets.
