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FinancialNews


  • 10-12-20

    Turkish discount grocer to sell 35 percent shares of its Moroccan affiliate

    (MENAFN)A statement sent to Turkey's Public Disclosure Platform (KAP) on Wednesday, declares that, Turkish discount grocer BIM has agreed on selling 35percent shares of its Moroccan affiliate to the UK-based Blue Investment Holding.

    Blue Investment Holding is possessed by Helios Investment Partners, a private equity fund manager interested on the Africa region.

    The expected worth of the deal is 86.4 million Moroccan dirham (USD9.6 million).
    The sale goals to uphold and widen BIM Stores SARLAU's current growth trend in Morocco, and attain localization in the region with specialized investors to create more rates, according to the filing.

    By the competition authority of Morocco, the transaction is estimated to be finished subject to conditions including an approval.

    MENAFN10122020000045011369ID1101260546

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