Singapore’s GIC Pte., Ubben’s Inclusive Capital Partners LP and Abu Dhabi’s state pension fund have committed US$231 million. Ubben, who’s on the board of Exxon Mobil Corp., will join Fertiglobe as an independent board member after the listing.
Abu Dhabi and OCI NV are selling a stake worth as much as US$830 million in their Middle Eastern fertilizer venture to buyers including a Singapore sovereign wealth fund and U.S. activist investor Jeff Ubben.
OCI and Abu Dhabi National Oil Co. are offering 13.8% of Fertiglobe Holding in an initial public offering that comes as the business booms, thanks in part to a natural-gas shortage hurting rivals in Europe. The firm will be valued at US$6 billion at the top end of the price range.
