Incitec Pivot Limited (ASX:IPL) announced the intention to demerge Dyno Nobel Pty Limited on May 23, 2022. Post completion, Dyno Nobel Pty Limited will be demerged under a standalone entity, which will seek listing on ASX. Upon completion, Incitec Pivot Limited will changes its name to Dyno Nobel Limited. In a related transaction, Incitec Pivot Limited announced the intention to demerge Incitec Pivot Fertilizers Business on May 23, 2022. The transaction is subject to obtaining approvals from Board of Directors and shareholders of Incitec Pivot Limited. The conditions also include approvals from court, regulatory and third-party approvals. Completion of the transaction is expected in first half of 2023. Macquarie Securities (Australia) Ltd. and UBS Group AG (SWX:UBSG) are acting as financial advisers and King & Wood Mallesons is acting as legal adviser to Incitec Pivot Limited.