Canada’s Neutrin Intends to Sell its Stake in MOPCO to Egypt
Canada’s Neutrin said on Friday that it would sell its entire stake in Misr Fertilizer Production Company (MOPCO) to Egypt, along with settling arbitration claims for a total of $ 540 million.
The Canadian fertilizer maker said its investment in MOPCO was contributing between $ 15 million and $ 20 million annually to its adjusted EBITDA.
Under the agreement, Neutrin said that it would settle all arbitration claims it had filed against the Egyptian government and the Egyptian Company for Nitrogen Products of MOPCO, after the deal was closed.
Canada’s Neutrin intends to sell its stake in MOPCO to Egypt and settles arbitration claims.