2023-05-28 13:11:14
The Competition Council has just been notified of the proposed economic concentration which concerns the acquisition by the company “BGI Petroleum” (Benbrahim Group Investment Petroleum), owned by Rida Benbrahim, of 80% of its shares and voting rights relating thereto of the company “LOCALUB”, specialized in the distribution of hydrocarbons.
The competition policeman received a notification under which “BGI Petroleum plans to acquire, subject to the fulfillment of certain conditions precedent and in particular the agreement of the competition council, 80% of the shares of the company LOCALUB , i.e. 120,000 shares”, indicates in a communiqué of the Competition Council. The same source also notifies the parties concerned to make their observations known no later than 1is June 2023.
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Founded in 2010 in Agadir, LOCALUB (Fuel and Lubricant Logistics of Agadir), operates in the wholesale and semi-wholesale distribution of fuels and lubricants to B2B customers. It is also involved in the sale and repair of equipment for service stations. This is how its takeover by the Rida Benbrahim group is part of the launch of BGI Petroleum’s new fuel distribution network, which today includes around fifteen service stations under the “Yoom” brand.
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It must be said that Rida Benbrahim has great ambitions in the hydrocarbons sector. Through its Yoom service stations, it wants to offer new generation, innovative services, centered on customer expectations and capitalizing on expertise and technology. Thus, in addition to fuel distribution, BGI Petroleum, via an agreement it has signed with Green Energy Park, is also deploying iSmart terminals produced by the latter at Yoom service stations.
It should be noted that BGI Petroleum has concluded a contract for the rental of the storage tanks of the SAMIR refinery with the trustee responsible for the liquidation of the latter, following the authorization on October 25 of the Casablanca Commercial Court.
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