The OCI board, excluding Nassef and Nadia Sawiris, has spent weeks evaluating the proposal against alternative paths, including a potential solvent wind-down. While management maintains that the Orascom Construction deal remains a compelling outcome for stakeholders, they acknowledge the clear preference among some shareholders for a cash exit. To bridge these conflicting interests, the board is advocating for a dual approach: supporting the EUR 4.10 cash offer while simultaneously pushing to preserve the combination with Orascom Construction.

The path forward remains complicated by the Enterprise Court appointed members, who have yet to signal their support for the offer or consent to the necessary Extraordinary General Meeting required to finalize the Orascom transaction. The board now awaits their decision to break the impasse that has frozen the Orascom deal since January 2026, when the vote was pulled from the agenda following a court-ordered delay.