2023-05-11 03:24:00
(Agence Ecofin) – This subsidiary of the Moroccan investment holding company H&S Invest Holding will open its capital to the French investor STOA, involved in infrastructure projects in Africa. The operation started should be finalized by the end of June 2023.
STOA, a French investment vehicle that invests equity and quasi-equity in infrastructure projects in Africa, Latin America and Southeast Asia, announced on Tuesday May 9, the completion of a commitment of 330 million dirhams ($32.9 million), with a view to acquiring a minority stake in the capital of Building Logistics Services (BLS).
According to Moroccan media, STOA, a subsidiary of the French Caisse des dépôts et consignations (CDC) should acquire a 20% stake in the capital of this logistics and warehousing service provider, controlled by the Moroccan investment holding company H&S Invest Holding.
« We are happy to open our capital to STOA and to strengthen the financial capacities of Building Logistics Services with a view to implementing an ambitious development plan. We will consolidate our position in the logistics sector in Morocco said Moncef Belkhayat (pictured), chairman of H&S Invest Holding.
The proposed acquisition of BLS shares issued by STOA has yet to obtain regulatory and competition approval. The finalization of this process might take place by June 2023.
Building Logistics Services claims to have achieved a turnover of 48 million dirhams in 2020.
It should be noted that this operation will mark the 8th capital opening carried out by H&S Invest Holding, for the benefit of an international financial player.
Chamberlain Moko
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