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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Saudi Arabia’s SABIC Agri-Nutrients Plans to Buy 49% of ETG Inputs Holdco

Africa
SABIC Agri-Nutrients said it had signed a binding agreement to acquire a 49% stake in ETG Inputs Holdco LTD. (Reuters)

Saudi Arabian fertilizers maker SABIC Agri-Nutrients said on Monday it had signed a binding agreement to acquire a 49% stake in ETG Inputs Holdco LTD.

ETG Inputs Holdco blends and distributes fertilizers, seeds and agro-chemicals directly to farmers and customers in several countries in Africa, according to information on its website.

The transaction is based on an enterprise value of $320 million, and subject to regulatory approvals and other terms and conditions, SABIC Agri-Nutrients said in a regulatory disclosure.

The company said it will finance the acquisition through company's resources, in addition to bank facilities.

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