2023-07-29 19:11:18
Moroccan institutional investors, shareholders of COSUMAR and the Wilmar group
concluded, on July 28, 2023, a global agreement relating to the sale of the entire stake of the Wilmar group in COSUMAR, representing 30.05% of the capital.
This agreement also provides for the sale by COSUMAR of all of its interests in the companies Durrah and Wilmaco for the benefit of the Wilmar group according to terms which will be submitted to the authorities of COSUMAR.
This operation crowns ten years of a strategic and commercial partnership between COSUMAR and the Wilmar group.
The entry into the capital of an international sugar operator as a minority shareholder is envisaged. This would occur simultaneously with the aforementioned transaction and at the same price.
The transaction will be carried out on the basis of a price of 210 dirhams per share.
The completion of the transaction, planned for the fourth quarter of 2023 at the latest, will take place following the lifting of the conditions precedent, in particular the obtaining of the usual regulatory authorizations (which include the authorization of the Competition Council). There are no plans to change COSUMAR’s governance until the transaction is completed.
For its part, the COSUMAR group will continue to deploy its sugar sector development strategy to contribute to the Kingdom’s food sovereignty and work to diversify its activities nationally and internationally.
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