Statement from the Competition Council regarding the economic concentration project concerning the acquisition by the investment fund « THE INVESTMENT FUND FOR DEVELOPING COUNTRIES », the company « PROPARCO SA » and the company « SIAD TEA2 LLP » of joint control of the company « IMPERIUM HOLDING SARL » through the acquisition of 31% of its share capital and related 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 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 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 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:

• Acquirer No.1: The investment fund « THE INVESTMENT FUND FOR DEVELOPING COUNTRIES »;
• Acquirer No.2: The company « PROPARCO SA »;
• Acquirer No.3: The company « SIAD TEA2 LLP »;
• The target: The company « IMPERIUM HOLDING SARL ».

Nature of the operation

• Takeover

Economic sectors concerned

• Pre-packaged tea packaging.

Deadline for interested third parties to submit their observations

– 10 days from the date of publication of this statement, i.e. July 22, 2024.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION

The Competition Council received notification of an economic concentration operation concerning the acquisition by the investment fund « THE INVESTMENT FUND FOR DEVELOPING COUNTRIES », the company « PROPARCO SA », and the company « SIAD TEA2 LLP » of joint control of the company « IMPERIUM HOLDING SARL », through the joint acquisition of 31% of its share capital and related voting rights.

« THE INVESTMENT FUND FOR DEVELOPING COUNTRIES » is a Danish investment fund holding stakes in companies active in various sectors, including tea packaging and distribution, coffee and macadamia nut cultivation and sales in African countries.

« PROPARCO SA » is a French public limited company, whose main mission is to finance and support projects of companies and financial institutions in developing and emerging countries, from SMEs to regional banking groups, including microfinance institutions.

« SIAD TEA2 LLP » is a newly created vehicle, for the purposes of the operation, established as a limited liability company under English and Welsh law.

« IMPERIUM HOLDING SARL » is a Moroccan limited liability company, active in pre-packaged tea packaging.

 

Done in Rabat, on July 11, 2024