Latest News
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 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 concerned:
- Acquirer No. 1: The company “Earth LuxCo, S.à.r.l.”;
- Acquirer No. 2: The company “Ignis Energy Holdings, S.L.”;
- The target: The company “Global Moraban S.L.”.
Nature of the operation
- Takeover
Economic sectors concerned
- Renewable energy sector
Deadline for interested third parties to submit their observations
- 10 days from the date of publication of this statement, i.e. August 2, 2024
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES
The Competition Council received notification of an economic concentration operation concerning the acquisition by the company “Earth LuxCo, Sàrl” and the company “Ignis Energy Holdings, SL” of joint control of the company “Global Moraban SL”, through the acquisition of 50% of its share capital and related voting rights.
Earth LuxCo, Sàrl is a Luxembourg limited liability company, a acquisition vehicle with no prior commercial activities, created for the purpose of the proposed operation. It is indirectly and exclusively owned by the company “KKR”.
Ignis Energy Holdings, SL, is a Spanish limited liability company. It is an investor and developer specializing in the energy sector, particularly in the development and financing of renewable energy production facilities.
Global Moraban SL “P2X HoldCo” is a Spanish limited liability company that is not operational and was specifically established for the proposed operation. The company will develop green hydrogen, ammonia, e-methanol, e-fuels, and sustainable aviation fuels production plants for companies active in refining, steel, chemicals, fertilizers, among other sectors, as well as traditional renewable energies, mainly wind and solar, associated with hydrogen and ammonia projects.
Done in Rabat, July 22, 2024
