The Moroccan state will sell to Tanger Med a 35% strategic stake of the Societe d’Exploitation des Ports capital share, known as Marsa Maroc to Tanger Med. The price of the transaction has been set to 5.48 billion MAD with the 2020 dividends attached.
This transaction is subject to the clearance of regulatory conditions, and will be carried out on the OTC market. The Moroccan state shall retain 25% capital share of Marsa Maroc.
This transaction shall be carried out under the framework of the ongoing public sector reform, initiated under Royal Guidelines. The Morocco state shall pursue its policy of supporting various strategic sectors, in particular through state owned enterprises.
Tanger Med and Marsa Maroc, while keeping their independence, will implement a strategic partnership allowing them to develop synergies and empowering Morocco with a strong group able to meet the logistics challenges of the national economy.
This partnership will also enable Moroccan industrialists, importers and exporters, with a more efficient and competitive service offering, in the context of the dynamic reconfiguration of international logistics corridors.
– Tanger Med is an industrial port hub encompassing Tanger Med Port 1, Passengers and Trucks Port, Tanger Med Port 2, and more than 2,000 hectares of logistics, industrial and commercial activity zones. In 2020, Tanger Med has ranked as the first container port in the Mediterranean and the second most attractive economic zone in the world according to the Financial Times.
– Marsa Maroc is the national leader of port terminals operations. With presence in 9 Moroccan ports , its service offering includes handling, storage, port logistics services as well as services to ships.