The Commission for the Protection of Competition received a notification of a proposed concentration by NutriSI Holding NV (hereinafter “NutriSI”) in accordance with Article 13 of the Control of Concentrations between Enterprises Law (Number 22(I)/99). The transaction concerns the acquisition of 50% of the share capital of NU3 NV.
NutriSI, is a Beldgian holding company that forms part of the Israel Corporation Limited group of Companies. NutriSI does not have any business activity and is not active in any market. NutriSI already holds 50% of the share capital in NU3 NV and with the present notification, NutriSI intends to take sole control of the company since after the acquisition, NutriSI will hold 100% of the share capital of NU3 NV.
NU3 NV was set up by a joint venture agreement entered into between SQM Nitrados S.A., Soquimich European Holdings BV, Rotem Amfert Negev Ltd, Eurocil Holding B.V. and others. NU3NV operates from its Grobbendonk factory in Belgium and from another factory in Vlaardingen in Netherlands, which is held by NU3 NV’s fully owned subsidiary, NU3 BV. NU3 NV is a combined production enterprise for specialty fertilizers. Even though it does not produce or have any physical presence in Cyprus, it performs an economic activity in Cyprus as it sells its products via distributors. The Company is active in the Water Soluble (product which is mixed with water on site) and Liquid fertilizers (delivered in liquid form to site) markets.
The present notification has been filed in accordance with the provisions of article 13(3) of the Control of Concentrations between Enterprises Law 1999 until 2000