“Fertial” Company: A Spanish conglomerate relinquishes its entire stake to “Asmidal” – Algerian Dialogue

Announce General Chemical Complex “Asmidal” (a branch of the Sonatrach Group), today, Thursday, announced that the Spanish group “Villar Mer” waived its entire stake in the “Fertil” company in favor of “Asmidal”, putting a final end to the dispute subject to international arbitration between the two parties.

It was stated in the statement Asmidal and the Grupo Villar Mir group reached an amicable settlement of the dispute that arose between them in 2018, due to the Spanish group’s desire to sell its shares in the “Fertil” company, which led to resorting, since March 2021, to an arbitration procedure between the two parties, in which a decision was issued. Judgment in June 2023.

According to the statement: “The resumed dialogue between the two parties resulted in the signing of a binding settlement agreement protocol, which led, on Wednesday, June 12, 2024, to the completion of the transfer of all shares owned by the Villar Mir complex in the Fertil company to Asmidal, so that “Thereby putting a final end to the dispute subject to international arbitration.”

Thus, “Asmidal” now enjoys total control over the “Fertil” company, noting that the latter, which specializes in the fertilizer industry, was owned 49 percent by the “Villar Mir” group, and 51 percent by “Asmidal.”