Founded in Paris in 1920, Gide is a leading international law firm with 12 offices spread throughout the world.
Gide is physically present in six regions of the world, with 11 offices, enabling it to act on cases globally.
22 October 2013
22 October 2013 - Gide advises Polish Grupa Azoty on an investment in Senegal
Law firm Gide Loyrette Nouel has assisted Grupa Azoty Zakłady Chemiczne "Police" S.A. in acquiring a 55% share in the Senegalese African Investment Group. The transaction is valued at USD 28.85 million.
African Investment Group holds mining concessions for access to natural phosphate and ilmenite deposits in Senegal. With this transaction, ZCh Police, a company of Grupa Azoty, becomes the first Polish chemical company to have direct access to its own raw materials. Independence from external suppliers will enable the company to save around PLN 30 million next year alone. Up to one million tonnes of natural phosphorus may be shipped from Senegal to Poland per year. The size of the deposits is estimated at around 56 million tonnes for phosphate rock, and 1.5 million tonnes for ilmenite sand. The next stage of the investment includes the start of phosphoric acid production.
“Our investment in mineral deposits marks the beginning of our company’s expansion onto African markets, with Senegal as the centre for the production and distribution of fertilisers to other countries in Africa. In order to optimise the entire process, ships transporting raw materials to Poland will return with a cargo of fertilisers intended to be sold on African markets. In a few years’ time, we are planning to launch our own production of phosphoric acid”, says Krzysztof Jałosiński, president of the management board of Azoty Zakłady Chemiczne Police S.A..
Legal assistance was provided by Paweł Grześkowiak and Marta Karmińska from Gide Warsaw, along with Leïla Hubeaut, Alix Deffrennes and Barthélemy Littot from Gide Paris.
“Our firm has long-standing presence advising on a vast number of international investment projects implemented by corporations in Africa. We are very pleased with this opportunity to use our experience and offer our assistance to Polish investors”, says Paweł Grześkowiak, partner in charge of the transaction.
One of the eight countries forming the West African Economic and Monetary Union (UEMOA), politically and economically stable Senegal is one of the fastest developing democratic countries in Africa.
