Homarcom wins bid for Moroccan sugar company
2006-07-19
Moroccan Trade and Finance Holding (HOMARCOM) won the tender to purchase state-owned Moroccan Tea and Sugar Company (Somathes) for $59.88m on Tuesday (18 July). The tender, launched in April, attracted the interest of 25 local and international groups.
The Somathes sale is part of a large-scale government privatisation plan, which has already privatised 70 state-owned companies and subsidies in various sectors to generate more than $8 billion. The government has also announced plans to privatise the remaining 20 per cent of Regie des Tabacs, a national monopoly in tobacco production and distribution. (MAP)
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