OCI hits 5-year lows as valuation concerns in merger with Orascom weigh

OCI

09/12/2025 08:44

** Shares of Dutch chemicals and fertilisers producer OCI OCI.AS drop 12.4%, to their lowest in 5 years, after a merger deal agreement with Orascom Construction

** Degroof Petercam says the agreed exchange ratio of 0.4634 Orascom share per OCI share offers limited upside and falls short of its latest valuation estimates, which had suggested higher potential

** The equity valuation for OCI aligns broadly with estimates, while that for Orascom appears overestimated relative to its current market cap, Degroof adds

     ** The broker also flags the lack of a cash alternative in the deal as less favourable for OCI's shareholders

** Including Tuesday's move, OCI's stock is down 35.6% YTD

(Reporting by Clement Martinot)

((Clement.Martinot@thomsonreuters.com;))