• The acquisition of a 5% stake in NEXTCHEM by Yousef Al Nowais for €62.5 million has been finalized
• Yousef Al Nowais will support the development of the business as a partner with a consolidated experience and reputation in the UAE and the Gulf Area

Milan, 13 November 2024 – MAIRE, also acting on behalf of Maire Investments S.p.A (“MI”) and Yousef Mohamed Ali Nasser Al Nowais (“Yousef Al Nowais”), announces that, Yousef Al Nowais – an industrial partner and MAIRE shareholder since 2013 – has acquired today a 5% stake (the “Stake”) in the share capital of NEXTCHEM S.p.A. (“NEXTCHEM”) from MI. NEXTCHEM is MAIRE’s direct subsidiary heading the Sustainable Technology Solutions business unit of MAIRE Group.

Yousef Al Nowais has acquired the Stake for €62.5 million, based on an equity value of NEXTCHEM of €1.25 billion and an enterprise value of approximately €1.3 billion.

With this investment in NEXTCHEM, Yousef Al Nowais, who currently also holds 4.73% of MAIRE's share capital, will support the development of the business as a partner with a consolidated experience and reputation in the GCC (Gulf Cooperation Council) countries, where he operates through his subsidiaries active in various sectors in Abu Dhabi.

As a result of this transaction, MAIRE will hold 82.13% of NEXTCHEM’s share capital (unchanged, following the Board of Directors’ resolution to waive the pre-emption right, having received a favorable non-binding opinion of the Related Party Committee); MI 12.87%; and Yousef Al Nowais 5.00%.

Alessandro Bernini, CEO of MAIRE, commented: “This transaction represents another important step in NEXTCHEM’s value enhancement journey. We are confident that the investment of a highly reputable, long-term partner like Yousef Al Nowais in NEXTCHEM’s capital will bolster its development in a strategic area such as the Middle East, which is already playing a fundamental role in the energy transition.”

Yousef Al Nowais stated: "Since the start of the commercial relations with the Group about twenty years ago, as well as my investment in MAIRE more than ten years ago, I have strongly believed in the validity of this group's industrial strategies and have had concrete proof of its ability to successfully implement them. Today, I believe that NEXTCHEM can benefit from its leading market positioning, thanks to its best-in-class competencies and wide portfolio of proprietary technologies, to ride the current energy scenario, which is increasingly requesting innovative solutions and particularly focused on the decarbonization space."