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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 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the “summary of the operation” 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 companies and individuals concerned:
- Founder No. 1: The company “OCP Green Energy S.A.”;
- Founder No. 2: The company “Fortescue Future Industries United Kingdom Holdings Limited”.
Nature of the operation
- Creation of a joint venture.
Economic sector concerned:
- Green energy production sector
Deadline for interested third parties to submit their observations:
- 10 days from the date of publication of this press release, i.e. June 19, 2024
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES
The Competition Council has received notification of an economic concentration operation concerning the creation of a joint venture on an equal basis (hereinafter the “JV“) established and jointly controlled by “OCP Green Energy S.A” (“OGE“) and “Fortescue Future Industries United Kingdom Holdings Limited” (“FFI“).
The JV will be a newly established entity under Moroccan law, whose purpose is to develop assets dedicated to green energy production, with a particular focus on green hydrogen and ammonia production as well as green fertilizers. The JV will also focus on industrial development upstream and downstream, as well as technological research and development activities.
“OGE” is a Moroccan joint stock company, headquartered at Cité OCP Hay Moulay Rachid, Ben Guérir, registered with the Benguerir Trade Register under number 3561, with its entire share capital ultimately held by OCP S.A. “OGE” is a global player specializing in the production and marketing of electrical energy from renewable sources.
“FFI” is a limited liability company governed by the laws of England and Wales, headquartered at First Floor, Templeback, 10 Temple Back, Bristol, BS1 6FL, United Kingdom, and registered with Companies House under number 14718282. “FFI” is a holding company directly owned by “Fortescue Future Industries Pty Ltd”, a company specializing in research, development, and production of green electricity, green hydrogen, green ammonia, and other green industrial products related to renewable energy sources and uses.
Done in Rabat on June 13, 2024.
