Saint-Gobain Gulf Countries’ Post

Exciting developments in the construction chemicals industry! Saint-Gobain has finalized an agreement to acquire Fosroc, a leading player in Asia and emerging markets. This marks a major step in expanding Saint-Gobain's global reach in this sector. From my perspective as a recruiter in this space, this acquisition could be a game-changer. It opens up a wealth of new opportunities for professionals, driving innovation and growth across the industry. The combined strengths of Saint-Gobain's resources and Fosroc's expertise will likely lead to ground-breaking advancements and career prospects. #ConstructionChemicals #MergersAndAcquisitions #IndustryNews #GlobalExpansion #SaintGobain #Fosroc #Recruitment #CareerOpportunities

This is an important milestone in the history of the construction chemicals in the Middle East. After decades of fair competition between Weber and Fosroc in almost all the countries of the Middle East, the time has come to merge the efforts of these industry giants to create a unified front, leveraging their combined expertise, resources, and innovative technologies to address the evolving needs of the construction sector and drive sustainable growth across the region.

How is industry consolidation in chemicals evolving during uncertain times? Tackling this important question were Richard Sleep, President, NexantECA, Energy and Chemicals Advisory, who was joined by panellists Nadia Al-Hajji, CEO, Petrochemical Industries Co.; Tom Crotty, Group Director, INEOS; and Paul Smith, MD – Global Head of Chemicals, Citi. In his teaser presentation Mr. Sleep, discussed the role of Mergers and Acquisitions (M&As) in facilitating the transformation of the chemicals landscape. “The market landscape is evolving progressing towards climate neutrality and a more sustainable future,” he told delegates. Pursuing M&A deals can afford companies acquisition synergies, access to new markets, downstream integration and new value addition, opportunities for portfolio decarbonization as well as portfolio extension. The panellists went on to discuss the key value drivers for buyers, cross-regional transactions and their notable advantages, the growing influence of ESG considerations in M&A decisions, and much more. #chemicalindustry #petrochemicalindustry #chemicals #petrochemicals #GPCAforum #Qatar #Qatarevents #SaudiArabia #GPCA #sustainability #ESG #consolidation #mergersandacquisitions

Major changes coming in from Anglo American with plans to demerge Amplats, divest or demerge from De Beers, divest from steelmaking coal and Nickel business. This will leave the company with a portfolio made up of copper, premium iron ore and crop nutrients. According to the CEO, Duncan Wanblad, Anglo "expects that a radically simpler business will deliver sustainable incremental value creation through a step change in operational performance and cost reduction". The all share proposal by BHP has really made it clear that Anglo-American needed a reshape and a relook to its businesses making up its portfolio. From an SA perspective, it will be interesting to see who the front runners will be to buy Amplats given its leadership position in the world's pgm business. https://lnkd.in/dP652RAd

Glencore and Chandra Asri are close to finalizing a deal to acquire Shell ‘s Singapore assets for roughly $1 billion. According to Bloomberg, the purchase includes a 237,000 barrels per day refinery and a 1 million tonnes per annum ethylene plant on Bukom Island, as well as a mono-ethylene glycol facility on Jurong Island. Shell is selling these assets as part of a strategic review, driven by the need to modernize its portfolio, market challenges, and a commitment to capital discipline. The sale supports Shell's divestment strategy and is expected to be completed in the coming weeks. This decision aligns with Shell's broader strategy to optimize its chemicals and products portfolio amid changing industry dynamics. Piryengkasai Gajendran TechCIEHF Lalitaambigei Manoharan Suriya Tamilvanan https://lnkd.in/dHCBukCz

PetroNor E&P ASA Reports Impressive Quarterly Results. "A distribution to the Company’s shareholders during the second half of 2024 is anticipated as considered by the revised dividend policy released in May 2024... In the Notice of Meeting released on 8 May 2024, the Board of Directors (the “Board”) revised the dividend policy and anticipates a distribution of cash to the Company’s shareholders during the second half of 2024 in the approximate amount of USD 25 million resulting from the farm-down of exploration licences in Guinea Bissau. 18% dividend yield. It's not out of the question. https://lnkd.in/dfYhZ4rr

We are excited to share that Korea Zinc has been ranked Top 2 among Korea’s leading ESG companies by ‘Susinvest’, a major domestic ESG rating and proxy advisory firm in Korea.🏆   This year's assessment targeted 1,072 publicly listed companies in Korea. Korea Zinc ranked second among the 50 companies with assets over KRW 2 trillion, securing the second-highest position.🥈   Our remarkable improvement in ranking is attributed to significant efforts in various governance aspects including ▲ the attendance rate of independent directors at board meetings, ▲ the suitability of board composition, ▲ the increased number of female directors, ▲ appropriate director remuneration, ▲ the appointment of a compliance officer, ▲ separation of the roles of board chairman and CEO, and ▲ operation of an internal transactions committee. These efforts led to a substantial rise in their assessment rating and ranking.   Notably, Korea Zinc showed the most significant improvement among companies of similar size, jumping two levels in the comparative assessment rating compared to that of the first half of last year.

Glencore and Chandra Asri are close to finalizing a deal to acquire Shell‘s Singapore assets for roughly $1 billion. According to Bloomberg, the purchase includes a 237,000 barrels per day refinery and a 1 million tonnes per annum ethylene plant on Bukom Island, as well as a mono-ethylene glycol facility on Jurong Island. Shell is selling these assets as part of a strategic review, driven by the need to modernize its portfolio, market challenges, and a commitment to capital discipline. The sale supports Shell's divestment strategy and is expected to be completed in the coming weeks. This decision aligns with Shell's broader strategy to optimize its chemicals and products portfolio amid changing industry dynamics. Human Resilience Associates Danaraj Chandrasegaran Lalitaambigei Manoharan Suriya Tamilvanan Shivanie Jayakanthan https://lnkd.in/dHCBukCz

🌟 ADNOC Group's Landmark Acquisition of Covestro 🌟 The Abu Dhabi National Oil Company (Adnoc) is nearing a €14.4 billion agreement to acquire the German chemicals group Covestro. This acquisition represents the largest in Europe this year and the biggest all-cash deal in the chemicals sector. 🔹 Strategic Move by Adnoc: Adnoc's offer of €62 per share, a premium of nearly 60% on Covestro’s share price last June, underscores its strategic ambition to diversify beyond traditional oil and into gas, chemicals, and #renewableenergy. This acquisition aligns with Adnoc’s $150 billion five-year plan to transform into a global #energy giant. 🔹 A Boost from Leadership The final offer came after #UAE president Sheikh Mohammed bin Zayed al-Nahyan approved a €2 per share increase to demonstrate goodwill. This decision highlights the leadership's commitment to securing high-value assets and fostering global business relationships. 🔹 Covestro’s Role and Future Covestro, known for its production of foam insulation and specialty plastics, has faced challenges due to the European energy crisis and competition from China. Under Adnoc’s ownership, Covestro is poised to gain access to substantial capital, enabling it to pursue growth and #sustainability initiatives more aggressively. 🔹 Looking Ahead This deal marks the first successful takeover of a German Dax 40 company by a Gulf state-owned group. Covestro will continue to operate independently, focusing on innovation and sustainability, supported by Adnoc’s resources and strategic vision. #energytransition

ADNOC Group's petrochemical Tango: Why the Braskem deal got the curtain call In November, ADNOC made a non-binding offer to buy Novonor's stake in Braskem, valuing it at around $2.1 billion. The market's reaction to the failed negotiations was immediate and telling, with Braskem's shares plunging nearly 16% following the announcement. What are some potential reasons for ADNOC to walk away? Find out more here: https://lnkd.in/dPH8Ar23