✏️ BY: Dr. Hana Saada
Algiers, Algeria | June 14th, 2024 —The Spanish group Villar Mir has sold its entire stake in Fertial to Asmidal, a subsidiary of Sonatrach, effectively resolving their international arbitration dispute, Sonatrach announced on Thursday.
According to Sonatrach’s statement, the industrial group Asmidal and Grupo Villar Mir (GVM) have reached an amicable settlement of their disagreement that originated in 2018. The dispute arose from GVM’s intention to sell its shares in Fertial, which led to an arbitration process between the two parties starting in March 2021. The arbitration verdict was delivered in June 2023.
“The dialogue reinstated between Asmidal and GVM resulted in the signing of a binding settlement agreement, leading to the formalization of the transfer of GVM’s entire shareholding in Fertial to Asmidal on June 12,” the statement detailed.
Full Control Acquired by Asmidal
With this agreement, Asmidal now has complete control over Fertial. Prior to this transaction, Fertial was 49% owned by GVM and 51% by Asmidal. The resolution of this dispute marks a significant milestone, as it grants Asmidal total ownership and management control of Fertial.
The transfer of ownership is seen as a strategic move to consolidate Fertial’s operations under Asmidal’s management, which is expected to streamline operations and enhance the company’s performance. Fertial, a major player in the fertilizer industry, can now benefit from Asmidal’s full oversight and resources.
The acquisition underscores Sonatrach’s commitment to expanding its industrial footprint and optimizing its portfolio. By integrating Fertial fully into its operations, Asmidal aims to leverage synergies and drive growth in Algeria’s fertilizer sector.
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