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Moroccan company sells over shares in beverages branch
Morocco, Business, 4/22/2003
Moroccan company "Societe Nationale d'Investissement" (SNI) has sold over all of its shares in the alcohol and non-alcohol beverages branch to Belgian group "Castel."
A statement of the mother conglomerate "ONA" says SNI has recently sold 54.6% of shares it used to hold in the beer-brewing plants and sparkling beverages. It also ceded shares in the retail marketing and metal cabinets manufacturing while keeping its shares in mineral water and plastic processing of ONA's two affiliates.
The brewing plant shares were sold at a unit price of 1,073 Dh (US$ 107) while shares in the metal cabinet plant were sold at a unit price of 741 DH (US$ 74). The Belgian group is already operating in Morocco in the production and selling of beer, wines and sparkling water and beverages.
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