SABIC Agri-Nutrients seeks to fulfill regulatory requirements to acquire 49% of ETG Inputs

Logo of SABIC Agri-Nutrients Co. 

SABIC Agri-Nutrients Co. is working on meeting the regulatory requirements to complete the acquisition of a 49% stake in ETG Inputs Holdco Ltd. in accordance with the terms and conditions of the sales and purchase agreement (SPA), the company said in a statement to Tadawul. 

The requirements are likely to be completed during the first half of 2023. 

The relevant financial impact of the acquisition will appear in H1 2023, the company said, adding an announcement will be published on Tadawul on the completion of the transaction. 

In January, SABIC Agri-Nutrients signed a binding agreement to acquire a 49% stake in ETG Inputs for an enterprise value of $320 million (SAR 1.2 billion), according to data available with Argaam. 

The deal is based on cash and debt free, as well as changes in the working capital adjustment that will be determined when the transaction is completed. 

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