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.

The post 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” appeared first on Conseil de la concurrence du Maroc.

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 transaction.

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 direct acquirer: the company “Journey Personal Care France SAS”;
• The indirect acquirer: the company “Journey Personal Care Holdings Ltd”;
• The target: the company “Financière de la Salicorne SAS”.

Nature of the transaction

• Acquisition of exclusive control

Economic sectors concerned:

• Market for the production and distribution of absorbent hygiene products.

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 a concentration project concerning the indirect acquisition of exclusive control of the company “Financière de la Salicorne SAS” by the company “Journey Personal Care Holdings Ltd”, through its subsidiary “Journey Personal Care France SAS”, by acquiring 100% of its capital and associated voting rights.

“Journey Personal Care France SAS” is a French simplified joint-stock company with its registered office at 3, boulevard de Sébastopol, 75001 Paris, France, registered with the Paris Trade and Companies Register under number 105 814 206 RCS Paris. It is 100% owned by the company “Journey Personal Care Holdings Ltd”.

“Journey Personal Care Holdings Ltd.” is a private limited company under English and Welsh law, with its registered office at 280 Bishopsgate, Level 6, London EC2M 4RB, United Kingdom, registered under number 12957651. The group designs, manufactures, and markets absorbent hygiene products, including products for adult incontinence and baby diapers, distributed through healthcare channels, retail, and direct consumer sales. Its products are marketed under the brands Attends, Indas, and Comfees, as well as a wide range of private label brands.

“Financière de la Salicorne SAS” is a French simplified joint-stock company with its registered office at Domaine de la Clotte – 30250 Salinelles, registered with the Trade and Companies Register under number 903 600 021 RCS Nîmes. It is the holding company of the Activ Medical Disposable (AMD) group, a growing designer, manufacturer, and distributor of absorbent hygiene products and disposable medical products, specializing in products for adult incontinence. Its portfolio includes, among others, all-in-one and anatomical products, pull-up pants, bed pads, and products for light and severe incontinence, marketed under both own brand and private label. The group serves customers in approximately 25 countries through retail, healthcare, distribution, and care providers.

Done in Rabat, on October 8, 2026.

The post Press release from the Competition Council regarding the economic concentration project concerning the acquisition by the company “Journey Personal Care Holdings Ltd” of the indirect exclusive control of the company “Financière de la Salicorne SAS” appeared first on Conseil de la concurrence du Maroc.

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 involved:

• The acquirer: the company “Holding Afrique Diot Siaci BidCo SAS”;
• The target: the company “Afrique Holding S.à.r.l.”;

Nature of the operation:

• Exclusive takeover.

Economic sectors concerned:

• Brokerage and intermediation in insurance and risk management consulting.

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 exclusive takeover by the company “Holding Afrique Diot Siaci BidCo SAS” of the company “Afrique Holding Sarl”. The operation consists of acquiring the remaining 49% of the share capital and voting rights of the target company from the company “Amethis Brokerage Sarl”, thereby increasing the acquirer’s stake from 51% to 100%.

“Holding Afrique Diot Siaci BidCo SAS” is a simplified joint-stock company under French law, with a share capital of €5,000, headquartered at 39, rue Mstislav Rostropovitch, 75017 Paris, France, registered with the Paris Trade and Companies Register under number 921 925 228. It is a holding company belonging to the “Diot Siaci” group, active in insurance and reinsurance consulting and brokerage.

“Afrique Holding S.à.r.l.” is a limited liability company under Luxembourg law, headquartered at 14-16, avenue Pasteur, 2310 Luxembourg, Grand Duchy of Luxembourg, registered with the Luxembourg Trade and Companies Register under number B275108. It engages in the acquisition and management of stakes and, through its subsidiaries, is active in insurance brokerage and intermediation as well as risk management consulting.

Done in Rabat, on October 08, 2026

The post Press release from the Competition Council regarding the economic concentration project concerning the exclusive takeover by the company “Holding Afrique Diot Siaci BidCo SAS” of the company “Afrique Holding SARL” through the acquisition of 49% of the share capital and voting rights appeared first on Conseil de la concurrence du Maroc.

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:

• The acquirer: the “Mohammed VI Investment Fund”;
• The historical shareholders: the Moroccan State, represented by the Minister of Economy and Finance, and the company “BAB Consortium S.A.”, owned by the companies “Bank of Africa”, “Banque Centrale Populaire”, and “Attijariwafa bank”;
• The target: the company “Morocco Biotechnologies” (MARBIO).

Nature of the operation:

• Joint control acquisition.

Economic sectors concerned:

• Market for contract manufacturing services of injectable pharmaceutical products;
• Vaccine sales market.

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 “Mohammed VI Investment Fund”, of joint control of the company “Morocco Biotechnologies” (MARBIO), alongside its historical shareholders, the Moroccan State and the company “BAB Consortium S.A.”, through the acquisition of a 10% stake potentially up to 30% of its share capital and related voting rights, respectively from the company “Recipharm AB” and the Moroccan State.

The “Mohammed VI Investment Fund” is a Moroccan joint stock company, established by Law No. 76-20 establishing the Mohammed VI Investment Fund, registered with the Rabat Trade Register under number 149,995, with its registered office at 11, Avenue Bir Kacem, Rabat. Its main purpose is to contribute to financing structuring investment projects, strengthening companies’ capital, and supporting production activities.

The Moroccan State is represented by the Minister of Economy and Finance.

The company “BAB Consortium S.A.” is a Moroccan joint stock company, with a share capital of 10,000,000 dirhams, headquartered at 157, Avenue Hassan II, Casablanca, Morocco, and registered with the Casablanca Trade Register under number 495,717. It was established by the companies “Bank of Africa”, “Banque Centrale Populaire”, and “Attijariwafa bank” to participate in the project to create vaccine production capacities in Morocco (“Project Lion 1”). Its activities include the implementation of all industrial projects, trading of all goods, and taking stakes in existing or forming companies.

The company “Bank of Africa” is a Moroccan joint stock company, registered with the Casablanca Trade Register under number 27,129 and authorized as a credit institution by Minister of Finance and Investments Order No. 2348-94 of August 23, 1994, with its headquarters at 140, Avenue Hassan II, Casablanca, Morocco. It is a universal multi-business banking group, active particularly in commercial banking, investment banking, specialized financial services such as leasing, factoring, and consumer credit, as well as participatory banking.

The company “Banque Centrale Populaire” is a Moroccan joint stock company, registered with the Casablanca Trade Register under number 28,173 and authorized as a credit institution by Bank Al-Maghrib Governor’s decision No. 28 of October 25, 2010, with its headquarters at 101, Boulevard Mohamed Zerktouni, Casablanca, Morocco. Its main missions include conducting all banking operations for which it is authorized as a credit institution, coordinating the Banque Populaire Group’s policy, and serving as the central banking body for regional popular banks.

The company “Attijariwafa bank” is a Moroccan joint stock company, registered with the Casablanca Trade Register under number 333, with its headquarters at 2, Boulevard Moulay Youssef, Casablanca, Morocco. It is a Moroccan banking group active in retail banking, investment banking, asset management, insurance, and other financial services, with a broad regional presence through subsidiaries in several African countries, as well as in Europe and the Middle East.

The company “Morocco Biotechnologies” (MARBIO) is a Moroccan joint stock company, registered with the Casablanca Trade Register under number 52,205, with its headquarters at 157, Avenue Hassan II, Casablanca, Morocco. It engages in activities across the pharmaceutical and chemical value chain (manufacturing, import, export, distribution, and marketing of drugs, vaccines, medical devices, and raw materials), as well as in intellectual property management and taking stakes in companies in the same sector or related sectors.

Done in Rabat on October 8, 2026

The post Press release from the Competition Council regarding the economic concentration project concerning the acquisition, by the “Mohammed VI Investment Fund”, of joint control of the company “Morocco Biotechnologies” (MARBIO), alongside its historical shareholders, the Moroccan State and the company “BAB Consortium S.A.” appeared first on Conseil de la concurrence du Maroc.

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 statement 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 “Elcano France Bidco SAS”;
• The target: the companies “Gymspa SAS”, “FitFin SAS”, and “FitMan SAS”.

Nature of the operation:

• Exclusive takeover.

Economic sectors concerned:

• Fitness club markets.

Deadline for interested third parties to submit their observations:

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

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council has received notification of an economic concentration operation concerning the exclusive takeover by the company “Elcano France Bidco SAS” of the companies “Gymspa SAS”, “FitFin SAS”, and “FitMan SAS”, through the acquisition of 100% of the share capital and voting rights of the targets.

“Elcano France Bidco SAS” is a French simplified joint-stock company, with its registered office at 23, rue d’Anjou, 75008 Paris, France, registered with the Paris Trade and Companies Register under number 102 990 454. “Elcano France Bidco SAS” is an acquisition vehicle established for the intended operation controlled by “Providence Equity Partners LLC”, a global asset manager specializing in private equity, headquartered in the United States of America.

“Gymspa SAS” is a French simplified joint-stock company, with its registered office at 1 avenue du Général de Gaulle, Tour PB5, 92800 Puteaux, France, registered with the Nanterre Trade and Companies Register under number 450 091 350. “Gymspa SAS” operates a network of fitness clubs mainly in France and worldwide, operating under the brand “Fitness Park”.

“FitFin SAS” is a French simplified joint-stock company, with its registered office at 6/8 boulevard Haussmann, 75009 Paris, France, registered with the Paris Trade and Companies Register under number 829 204 247. “FitFin SAS” holds a minority stake in “Gymspa SAS”. “FitFin SAS” does not engage in any commercial activities.

“FitMan SAS” is a French simplified joint-stock company, with its registered office at Tour PB5, 1 avenue du Général de Gaulle, 92800 Puteaux, France, registered with the Nanterre Trade and Companies Register under number 841 726 805. “FitMan SAS” holds a minority stake in “Gymspa SAS”. “FitMan SAS” does not engage in any commercial activities.

Done in Rabat, on October 08, 2026

The post Statement from the Competition Council regarding the economic concentration project concerning the exclusive takeover by the company “Elcano France Bidco SAS” of the companies “Gymspa SAS”, “FitFin SAS”, and “FitMan SAS”. appeared first on Conseil de la concurrence du Maroc.