SABIC AN board approves subsidiary merger

SABIC AN logo shown, as the company announces approval of a subsidiary merger

SABIC Agri-Nutrients Co.’s (SABIC AN) board of directors approved on Feb. 26 the merger of its wholly owned subsidiary, National Chemical Fertilizer Co. (Ibn Al-Baytar), into the company, according to a statement to Tadawul.
 

Ibn Al-Baytar will be dissolved post-merger, subject to shareholders’ approval and meeting regulatory requirements.

 

The merger aims to strengthen the company’s corporate structure and achieve efficiency by accelerating operations and reducing costs. No financial impact is expected from the merger, and any significant developments will be announced in due course, the statement added.

 

Ibn Al-Baytar was established in 1985 as a Saudi limited liability company wholly owned by SABIC Agri-Nutrients, with SAR 494.7 million in capital. Its core activities are focused on owning, operating, and managing plants for the production of chemical fertilizers, data compiled by Argaam showed.

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