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OCP buys Bunge out of phosphate JV in Morocco

7:43 AM MDT | September 20, 2013

Office Chérifien des Phosphates (OCP; Casablanca) and Bunge (White Plains, NY) say they have reached an agreement for OCP to acquire Bunge’s 50% stake in the companies’ phosphate and phosphate fertilizer joint venture in Morocco. The jv, Bunge Maroc Phosphore (BMP; Jorf Lasfar), was formed in 2008 to produce fertilizers in Morocco and serve as an additional source of phosphate-based raw materials and intermediate products for Bunge’s fertilizer businesses in South America. The transaction is expected to close by the end of 2013, subject to customary...

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