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In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 adopted for its implementation, as amended and supplemented, the Competition Council makes available to the public the “operation summary” below, containing the information provided by the parties.
This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.
The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 adopted for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.
Names of the companies and groups concerned:
- The acquirer: The company “Midea Netherlands BV”;
- The target: The company “Teka Industrial SA”.
Nature of the operation
- Acquisition of exclusive control.
Economic sectors concerned
- The household appliance sector.
Deadline for interested third parties to submit their observations
- 10 days from the date of publication of this press release, i.e. September 23, 2024.
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES
The Competition Council received notification of an economic concentration operation concerning the acquisition of exclusive control of the company “Teka Industrial SA” by the company “Midea Netherlands BV”.
“Midea Netherlands BV” is a Dutch limited liability company, a subsidiary of the Midea CO Ltd Group. The said subsidiary is active in the production and sale of household appliances.
“Teka Industrial SA” is a Spanish public limited company, active in the design, manufacture, and sale of household appliances and kitchen equipment.
Done in Rabat, on September 12, 2024.
