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Allen and Overy advised OCI N.V. on the demerger of its engineering and construction business from its fertilizer and chemicals business (the Demerger).
The demerged business, Orascom Construction Limited (Orascom Construction), was dually listed on NASDAQ Dubai and the Egyptian Exchange (EGX) as a global engineering and construction company. OCI N.V. continued to be listed on the Euronext Amsterdam as a global producer of nitrogen fertilizers, methanol and other natural gas based chemical products.
The Demerger will be implemented through a USD 1.4 billion reduction in OCI N.V.'s share capital whereby OCI N.V. shareholders will receive one Orascom Construction share for every two OCI N.V. shares held.
The A and O team was led by UAE-based corporate partners Andrew Schoorlemmer and Nick Stuart. Amsterdam-based partner Tim Stevens led on the Dutch corporate and regulatory aspects of the Demerger and London-based counsel Jeff Hendrickson provided advice on US securities law.
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