Press release from the Competition Council regarding the economic concentration project concerning the acquisition of exclusive control of “Jeesr Industries SARL” by “ECP Maroc SARL AU”, a subsidiary of the “Eczacıbaşı” Group, through the acquisition of 100% of its share capital and associated voting rights

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 was 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:

• The acquirer: “ECP Maroc SARL AU”, a subsidiary of the “Eczacıbaşı” Group;
• The target: “Jeesr Industries SARL”.

Nature of the operation

• Acquisition of exclusive control

Economic sectors concerned

• Manufacture and supply of semi-finished tissue paper rolls and hygiene products based on tissue paper.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e. January 29, 2024

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received a notification according to which “ECP Maroc SARL AU” (“ECP Maroc”), a subsidiary of the “Eczacıbaşı Group” (“Eczacıbaşı”), intends to acquire exclusive control of “Jeesr Industries SARL” (“Jeesr”) by acquiring 100% of its share capital and associated voting rights.

Eczacıbaşı, headquartered in Turkey, is an industrial group active in a wide range of sectors. The group is divided into four major operational units: (i) construction products; (ii) consumer products; (iii) health products; and (iv) natural resources. The group is mainly active in Turkey. All of Eczacıbaşı’s activities in Morocco are carried out by its Moroccan subsidiary, ECP Maroc, which manufactures and wholesales hygiene products based on tissue paper in Morocco.

Jeesr, the target, is a Moroccan company. It is a conversion unit specialized in the manufacture and supply of hygiene products based on tissue paper, also known as “paper converting products”, including facial tissue, toilet paper, paper towels, paper napkins, as well as semi-finished tissue paper rolls also known as “jumbo rolls”. Jeesr operates exclusively in Morocco.

Done in Rabat on January 18, 2024