(BUSINESS WIRE) – CF Industries Holdings, Inc. and OCI N.V. today announced that both companies remain fully committed to pursuing a combination of CF with OCI’s European, North American and global distribution businesses due to its strong industrial logic, significant expected synergies and value creation potential for shareholders.
The companies are jointly evaluating options to address the impact of the notice by the U.S. Department of the Treasury, issued on November 19, 2015, on the previously-announced combination. This evaluation includes exploring alternative structures for the combination, such as using a parent company in The Netherlands rather than one in the United Kingdom, to accommodate the requirements of the Treasury notice. Any agreement with respect to such new structure will require the approval of each company’s board of directors and shareholders.
Source: CF Industries Holdings, Inc.
This equipment will significantly lower the site’s CO2 emissions, reduce flaring and save around 60 gigawatt hours (GWh) energy each year. Project kick-off is in February 2021, with completion planned for 2023.
The acquisition significantly strengthens and expands Grace’s existing pharma portfolio. Pharma & Consumer is the largest, fastest growing and most profitable subsegment within Grace’s Materials Technologies business.
Solvay says it has decided to organize its soda ash and derivatives business into a separate and fully controlled legal structure.