Press release from the Competition Council regarding the economic concentration project concerning the exclusive takeover by the group “Florimond Desprez”, through its subsidiary “FD Admiral SAS”, of the new company “United Beet Seeds, SRL” by holding 75% 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 adopted 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 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 acquirer: The company “Florimond Desprez” through its subsidiary “FD Admiral SAS”;
• The target: The company “United Beet Seeds, SRL”

Nature of the operation

• Acquisition of exclusive control

Economic sector concerned

Research, development, production, and sale of sugar beet seeds

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e., March 25, 2024

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration project by which the French group “Florimond Desprez”, through its subsidiary “FD Admiral”, a French company registered with the Lille Métropole Trade and Companies Register under number B 481 419 363 and headquartered at Lieudit Wattines, 59242 Cappelle en Pevelle, France, intends to take exclusive control of a newly created company, in association with “DLF Seeds A/S”, a Danish company headquartered at Ny Oestergade 9, 4000 Roskilde, Denmark, named “United Beet Seeds” (a Belgian limited liability company headquartered at Industriepark 15, 3300 Tienen (Belgium) and registered under number 1005.997.787), which combines the activities of “Florimond Desprez” and the Danish group “DLF” in sugar beet, forage beet, and industrial chicory seeds, worldwide and notably in Morocco.

The company “United Beet Seeds” will consolidate certain assets of the companies “Florimond Desprez” and “DLF Seeds A/S”. Indeed, “Florimond Desprez” has committed to transfer 100% of the shares of the company “SES VanderHave BV” registered in the Netherlands and 100% of the shares of “Maison Fernand Lepeuple” registered in France to “United Beet Seeds”. “DLF Seeds A/S” has committed to transfer “DLF Beet Seed ApS” registered in Denmark, “DLF Recherche” registered in France, “DLF Beet Seed Italia SRL” registered in Italy, “DLF Tohumculuk Ticaret Limited Sirketi” registered in Turkey, “DLF Hilleshög Sp z.o.o.” registered in Poland, “MariboHilleshog LLC” registered in Russia, “DLF Beet Seed GmbH” registered in Germany, and 50% of the shares of “Magno Seed LLC” registered in the United States.

Done in Rabat on March 14, 2024