Press release from the Competition Council regarding the economic concentration project concerning the acquisition by the company “KAES Phosphate Holdings, LLC” of joint control of the company “Jorf Fertilizers Company I, SA”, through the acquisition of 50% of its share capital and related voting rights, alongside the company “OCP Nutricrops SA”

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition as amended and supplemented, 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 below “operation summary” containing 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 involved:

• The acquirer: the company “KAES Phosphate Holdings, LLC”;
• The target: the company “Jorf Fertilizers Company I, SA”;
• The historical shareholder: “OCP Nutricrops SA”.

Nature of the operation

• Joint control acquisition.

Economic sectors concerned

• Production of phosphoric acid and phosphate-based fertilizers.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e., October 19, 2026.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration project concerning the acquisition by the company “KAES Phosphate Holdings, LLC” of joint control of the company “Jorf Fertilizers Company I, SA”, through the acquisition of 50% of its share capital and related voting rights, alongside the company “OCP Nutricrops SA”.

“KAES Phosphate Holdings, LLC” is a limited liability company established under the laws of the State of Delaware, registered under number 87-3537514, with its registered office at Brandywine Plaza 1521 Concord Pike, Suite 201, Wilmington, New Castle County, DE, 19803 United States. KAES is ultimately controlled by “Koch, Inc.” (KI).

KI controls a diversified portfolio of companies engaged in refining and chemistry, process and pollution control equipment and technologies, minerals, fertilizers, raw materials trading and services, polymers and fibers, glass, forest and consumer products, electronic connectors, printing and packaging, enterprise software, and investments.

“OCP Nutricrops SA” (OCPN) is a Moroccan joint stock company, registered with the Casablanca Trade Register under number 19941, with its registered office at Complexe Jorf Lasfar, BP 118, Province El Jadida, Morocco. OCPN is a wholly-owned subsidiary of “OCP SA”, the ultimate parent company of the OCP group, a global producer, supplier, and distributor of phosphate-based fertilizers. OCP is also involved in the extraction of phosphate rock and its conversion into phosphoric acid, which it supplies to third parties and processes itself to produce phosphate fertilizers and other products.

“Jorf Fertilizers Company I, SA” (JFC1) is a Moroccan joint stock company, registered with the Casablanca Trade Register under number 316187, with its registered office at 2-4 rue Al Abtal, Hay Erraha, Casablanca, Morocco.

JFC1 is a wholly-owned subsidiary of OCPN. It operates three industrial units: (i) a phosphoric acid processing unit, (ii) a phosphate fertilizer processing unit, and (iii) a sulfuric acid production unit, where it produces phosphoric acid and phosphate fertilizers.

 

Done in Rabat, on October 8, 2026.