OCI Global N.V., the Netherlands-based chemicals and fertilizer group, controlled by Egyptian billionaire Nassef Sawiris, has secured a legal victory after the Enterprise Chamber of the Amsterdam Court of Appeal rejected a shareholder petition seeking an inquiry into the company’s policy and course of affairs.

The court dismissed the petition filed by the Dutch investors’ association VEB and shareholder Smits on October 7, 2026, declining to order an investigation into OCI affairs.

Dutch court rejects shareholder bid to probe OCI affairs

According to the Amsterdam-listed chemicals and natural resources group, the Enterprise Chamber also ordered VEB and Smits to jointly bear the administrative costs of the proceedings, estimated at approximately €18,000 ($20,142), including amounts awarded to OCI, NNS, the independent directors and the directors appointed by the Enterprise Chamber.

The ruling removes a legal challenge that had sought greater scrutiny of its conduct and governance as the company proceeds with its previously announced transaction involving NNS.

NNS Holding formally launched the cash offer on September 14, while the chemical group published its Position Statement on September 15 and confirmed that its independent directors unanimously recommend the backing of a $992 million all-cash offer from a Cyprus-domiciled, privately owned arm of Nassef Sawiris’ NNS Group.

NNS offer, and shareholder vote continue

Despite the court decision, OCI said the previously announced NNS offer will continue under its published terms and timetable. The company also confirmed that its Extraordinary General Meeting remains scheduled for October 30, 2026, where shareholders will consider matters related to the proposed combination.

OCI urged shareholders to rely on the offer memorandum, the company’s position statement and the EGM documentation for complete information about the transaction.

The company said it will publish the full Dutch-language judgment and a machine-generated English translation on its website as soon as practicable, with the Dutch version prevailing in the event of any discrepancy. The Enterprise Chamber will also make a summary of its decision available through its website.

Nassef Sawiris, one of Egypt’s wealthiest businessmen, is closely associated with OCI and serves as its executive chairman. The company has operations spanning nitrogen-based fertilisers, methanol and other chemicals, making it a significant player in the global chemicals industry.

The latest court decision allows the Netherlands-based group to proceed with the NNS offer and its planned shareholder meeting without an inquiry being ordered into its policy and course of affairs.