Abraaj Group Acquires Minority Stake in Indorama Fertilizers

October 13, 2016

Abraaj via its funds acquire stake in the largest urea fertilizer manufacturer in Sub-Saharan Africa, the Dubai-based investment firm says in statement on its website.

* No terms given;
* Stake purchased from Indorama Holdings Netherlands, a wholly owned subsidiary of Indorama Corp.;
* Says Indorama Fertilizers operates 1.4m metric tons/year urea manufacturing facility in Port Harcourt, Nigeria;
* Abraaj to help with Indorama Fertilizer’s market penetration and expansion plans. Source: Bloomberg