Abu Dhabi National Oil Company (ADNOC) and Dutch OCI are considering combining their Middle Eastern fertiliser businesses, Bloomberg News reported.
The final deal between ADNOC and the Netherlands-based chemical producer could be announced in the coming days.
“OCI continually considers strategic initiatives regarding its portfolio, including possible partnerships,” the firm said in a recent statement.
The Dutch chemical producer affirmed that it is in talks with ADNOC on possible cooperation relating to each company’s Middle East and North Africa (MENA) fertiliser assets.
“There can be no assurance that any transaction will ultimately take place,” the statement said.