The world's largest phosphate producer OCP Group of Morocco is set to take a one-fifth stake in Spanish fertiliser company Fertinagro in a capital increase deal, so that it may leverage the Spanish company's technical knowledge and capabilities in specialty products. The purchase is part of a wider initiative by OCP to explore innovation and product customisation, and the move is expected to optimise Fertinagro's product development and biotech application capabilities. OCP, which has been expanding its presence across Africa for several years, will acquire an additional 19.5 percent interest in Fertinagro's shares from Grupo Ferrovial de España, through a reverse takeover agreement.
The world's largest phosphate producer OCP Group of Morocco is set to take a one-fifth stake in Spanish fertiliser company Fertinagro in a capital increase deal, so that it may leverage the Spanish company's technical knowledge and capabilities in specialty products. The purchase is part of a wider initiative by OCP to explore innovation and product customisation, and the move is expected to optimise Fertinagro's product development and biotech application capabilities. Fertinagro produces and sells NPK, and NPK-enriched biostimulants, and has the production capacity of 2 million tonnes with 22 plants and logistic centres in Spain and France.