Grupa Azoty SA, Tarnów, has secured the green light from its shareholders to take over German specialty fertilizer and biostimulant manufacturer Compo Expert Group’s controlling company, Germanys’ Goat TopCo GmbH, the company said in a market filing. The Polish fertilizers and chemicals group earlier in the week also received the okay from Austrian antitrust authorities for its takeover of Compo Expert Group, according to a filing by Goat TopCo.
Grupa Azoty reached an agreement in early September with Goat Netherlands BV, an entity of London-headquartered private equity firm XIO Group for the acquisition of 100 percent of the shares of Goat TopCo for not higher than €235 million (approximately $270 million) (GM Sept.7, p. 1).
Compo Expert operates key production assets in Krefeld, Germany, and Vall d’Uixó, Spain, and Austria is among the countries where its products are sold.