In accordance with Article 13 of Law 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 \u201coperation summary\u201d below, containing the information provided by the parties.<\/p>\n
This information was prepared by the notifying party, which is solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.<\/p>\n
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 104-12 on freedom of prices and competition as amended and supplemented.<\/p>\n
Names of the companies and groups concerned:<\/strong><\/p>\n Nature of the operation<\/strong><\/p>\n Economic sectors concerned<\/strong><\/p>\n Deadline for interested third parties to submit their observations<\/strong><\/p>\n – 10 days from the date of publication of this press release, i.e. March 4, 2024.<\/p>\n NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES<\/strong><\/p>\n The Competition Council received notification of a concentration operation concerning the acquisition of exclusive control of the company \u201cFertiglobe plc\u201d by the company \u201cADNOC Fertilizers – Sole Proprietorship, L.L.C\u201d.<\/p>\n The proposed operation involves the transition from joint control to exclusive control, involving the following companies:<\/p>\n Under a sale and purchase agreement signed on December 15, 2023, \u201cADNOC Fertilizers\u201d will acquire all shares currently held directly or indirectly by \u201cOCI\u201d, representing approximately 50% plus one share in \u201cFertiglobe\u201d, and will increase \u201cADNOC Fertilizers\u201d’s stake in \u201cFertiglobe\u201d from 36.2% to 86.2%. Following the proposed operation, \u201cADNOC Fertilizers\u201d will acquire the majority of voting rights in \u201cFertiglobe\u201d, and thus exclusive control of the latter.<\/p>\n \u201cADNOC Fertilizers\u201d is part of the \u201cADNOC\u201d Group, which is an energy and petrochemical group operating across the entire hydrocarbon value chain through a network of integrated companies.<\/p>\n \u201cFertiglobe\u201d is a producer and distributor of nitrogen fertilizers.<\/p>\n Done in Rabat on February 22, 2024.<\/p>\n","protected":false},"excerpt":{"rendered":" In accordance with Article 13 of Law 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 \u201coperation summary\u201d below, containing the information provided by the parties. This information was prepared by the notifying party, which is 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 104-12 on freedom of prices and competition as amended and supplemented. Names of the companies and groups concerned: The acquirer: ADNOC Fertilizers – Sole Proprietorship, L.L.C. The target: Fertiglobe plc. Nature of the operation Acquisition of exclusive control Economic sectors concerned Production and sale of anhydrous ammonia; Production and sale of urea. Deadline for interested third parties to submit their observations – 10 days from the date of publication of this press release, i.e. March 4, 2024. NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES The Competition Council received notification of a concentration operation concerning the acquisition of exclusive control of the company \u201cFertiglobe plc\u201d by the company \u201cADNOC Fertilizers – Sole Proprietorship, L.L.C\u201d. The proposed operation involves the transition from joint control to exclusive control, involving the following companies: \u201cADNOC Fertilizers – Sole Proprietorship, L.L.C.\u201d (\u201cADNOC Fertilizers\u201d), established in the United Arab Emirates; and \u201cFertiglobe plc\u201d (\u201cFertiglobe\u201d) established in the United Arab Emirates, listed on the ADX and currently jointly controlled by \u201cADNOC Fertilizers\u201d and \u201cOCI Fertilizers B.V.\u201d (\u201cOCI\u201d). Under a sale and purchase agreement signed on December 15, 2023, \u201cADNOC Fertilizers\u201d will acquire all shares currently held directly or indirectly by \u201cOCI\u201d, representing approximately 50% plus one share in \u201cFertiglobe\u201d, and will increase \u201cADNOC Fertilizers\u201d’s stake in \u201cFertiglobe\u201d from 36.2% to 86.2%. Following the proposed operation, \u201cADNOC Fertilizers\u201d will acquire the majority of voting rights in \u201cFertiglobe\u201d, and thus exclusive control of the latter. \u201cADNOC Fertilizers\u201d is part of the \u201cADNOC\u201d Group, which is an energy and petrochemical group operating across the entire hydrocarbon value chain through a network of integrated companies. \u201cFertiglobe\u201d is a producer and distributor of nitrogen fertilizers. Done in Rabat on February 22, 2024.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[352],"tags":[],"class_list":["post-41475","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"acf":[],"yoast_head":"\n\n
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