Press release from the Competition Council regarding the economic concentration project concerning the acquisition by “SeaCoat Investments S.à.r.l.” of joint control of “Hempel SA”, alongside “Hempel Invest SA”

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 issued 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 issued 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:

• Acquirer No.1: “SeaCoat Investments S.à.r.l.”;
• Acquirer No.2: “Hempel Invest SA”;
• The target: “Hempel SA”.

Nature of the operation

• Takeover

Economic sectors concerned

• Sector of sale and distribution of paints and coating solutions.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e., July 1, 2024.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council has received notification of an economic concentration operation concerning the acquisition by the company “SeaCoat Investments S.à.r.l.” of joint control of the company “Hempel SA”, through the acquisition of a stake of up to 30% of the issued and outstanding share capital of “Hempel SA”, alongside “Hempel Invest SA”.

“SeaCoat Investments” is a limited liability company (S.à.r.l.) under Luxembourg law, newly established for the operation.

“Hempel Invest SA” is a Danish public limited company, established in Denmark and operating as a holding company of “Hempel SA”.

“Hempel SA” is a Danish public limited company. It is a global company headquartered in Denmark, active in the development, manufacture, and sale of paints and coating solutions used particularly for decorative, marine, industrial, energy, and infrastructure purposes.

 

Done in Rabat on June 20, 2024