2023-06-08 20:12:03
COMMUNIQUÉ
PRESS
Casablanca, June 08, 2023
Société des Boissons du Maroc (SBM) signs a Share Transfer Agreement for the sale to DISTRA (Mutandis group) of all the shares of Euro Africaine des Eaux (EAE)
Société des Boissons du Maroc (“SBM”), a company listed on the Casablanca Stock Exchange, wishes to announce, in accordance with the provisions of Article 15 of Law No. 44-12 relating to the public offering and the information required of persons
corporations and organizations making public calls for savings, having concluded with DISTRA (company of the Mutandis Group) (the “Purchaser”), on June 08, 2023, a contract for the transfer of shares (the “EAE Transfer Contract”) defining the terms and conditions of the sale by SBM of all the shares of EAE (the “Transaction”), at a price of 380 million
dirhams.
Signing of the EAE Assignment Agreement:
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follows the binding offer letter received from the Purchaser, and validated by SBM’s board of directors on December 8, 2022 (and which was the subject of a press release dated December 9, 2022 ( default/files/SBM_Cession_EAE.pdf)) ; et
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was – in accordance with applicable law – previously authorized by the SBM Board of Directors held on April 06, 2023, which gave all powers to the Chief Executive Officer to sign said EAE Transfer Agreement.
As a reminder, the company Euro Africaine des Eaux is the owner of the Ain Ifrane brand, it operates the original source of Bensmim located in the heart of the Atlas Mountains. Since 2013, Ain Ifrane has been recognized as natural mineral water. This activity achieves a turnover of 240 million and a net result of 23 million dirhams, ie 8% and 6% of the respective consolidated indicators.
The completion of the Transaction is not immediate and is subject to the satisfaction of several conditions precedent detailed in the EAE Assignment Agreement, including in particular
the obtaining of the required regulatory authorizations (such as the authorization of the Moroccan Competition Council) and (ii) the prior sale by SBM to EAE of the “mineral water” distribution activity which is currently carried out by SBM (it being specified that this prior intra-group transfer will take the form of a transfer of goodwill).
The parties aim to close the Transaction during the month of July 2023.
MOROCCO BEVERAGE COMPANY
Public limited company with a capital of 282,965,300 Dirhams Head office: N°38, Boulevard Aïn Ifrane, Lot Alamia, Sidi Moumen Casablanca – Morocco www.boissons-maroc.com
Financial Information & Investor Relations Mr. Philippe CORBIN gbm.communicationfinanciere@castel-afrique.com
1686306538
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