Finance

Morocco: FinanceCom acquires another 22.4% of Balima via Argan Capital

Monday, 07 January 2019 18:47
Morocco: FinanceCom acquires another 22.4% of Balima via Argan Capital

(Ecofin Agency) - FinanceCom, the financial holding which is the head of groups like Bank Of Africa, acquired more shares in Balima that is listed on Casablanca stock exchange. According to a market announcement, the holding revealed that Argan Capital, its investment arm, has acquired 391,390 shares in the real estate firm.

At MAD96.45 each, the investment, which was made as a block trade, amounted to MAD36.74 million for a 22.4% participation within Balima. The transferor of that operation is Société Financière de Crédit du Maghreb (SFCM), a release published on December 31, 2018, by the Moroccan stock market authority stated.

No reason has been provided for this sale and, even though the purchase price represents a MAD5.45 premium compared to the current value of Balima’s share, it is not clear whether SFCM realised a high profit. Between 2014 and the end of 2018, the share lost 40% of its value.

FinanceCom thus becomes an important shareholder of the real estate company Balima. Argan Capital is, by that acquisition, joining another branch of FinanceCom, RMA Watanya, the capital of the real estate company.

Idriss Linge



 
Telecom


 
Public Management


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.