OCP S.A, a leading global phosphate plant nutrition player, and Fertinagro Biotech S.L., a Spanish company which manufactures and supplies a wide range of plant nutrition solutions, have completed the acquisition by OCP, through one of its subsidiary, of 20% of Fertinagro's shares by way of a capital increase. To this end, all required regulatory approvals have been obtained and the capital increase has been approved by Fertinagro's shareholders, said the OCP and Fertinagro Biotech S.L in a communiqué on Tuesday. As part of the transaction, Fertinagro and OCP have signed an intellectual property and know-how license agreement as well as a co-development agreement, in line with OCP's strategic pillars to boost innovation and offer customized fertility solutions to meet farmers' specific needs around the world. Through this partnership, OCP and Fertinagro intend to join forces in further developing innovative products and solutions for the agriculture and plant nutrition, as well as carry out further growth through joint industrial and commercial projects in the next few years. «The strategic partnership we concluded with Fertinagro Biotech is a new step towards achieving our global growth strategy focusing on creating innovative, customized plant nutrition solutions adapted to crops and soils, to address the specific needs of farmers around the world», said chairman and chief executive officer of OCP Group, Mostafa Terrab. For his part, Fertinagro Biotech's founder, Generoso Martin, said that «OCP is the best partner with whom we share the vision and passion that animates us every day to serve farmers and agriculture, a central pillar of our current efforts and future developments». «We believe the alliance of efficiency, technology and scale brought by this unique partnership will undoubtedly benefit millions of growers around the world», he added. Fertinagro is a major Spanish fertilizer company dedicated to the production and commercialization of plant nutrition solutions.
