Finance

STOA to acquire minority shareholding in Morocco's Building Logistics

STOA to acquire minority shareholding in Morocco's Building Logistics
Thursday, 11 May 2023 12:38

The subsidiary of Moroccan investment holding H&S Invest Holding will open its capital to the French investor STOA, engaged in infrastructure projects in Africa. The transaction is expected to be finalized by the end of June 2023.

STOA, a subsidiary of French deposit and consignment fund CDC, announced Tuesday (May 9) a MAD330 million ($32.9 million) operation to acquire a minority shareholding in the capital of warehousing company Building Logistics Services (BLS).

According to Moroccan media reports, STOA is expected to acquire a 20% stake in the logistics and warehousing services provider, which is controlled by Moroccan investment holding company H&S Invest Holding.

"We are very pleased to open our capital to STOA and to strengthen the financial capacities of BLS to implement an ambitious development plan. We are going to consolidate our leading position in logistics in Morocco," said Moncef Belkhayat (photo), CEO of H&S Invest Holding.

STOA's proposal to acquire shares in BLS still needs the approval of regulatory and competition authorities. This process could be completed by June 2023. Successful completion will mark the eighth stake-selling operation completed by H&S Invest Holding with an international financial institution. 

In 2020, Building Logistics Services posted a MAD48 million turnover.

Chamberline Moko

On the same topic
• Fily Sissoko will oversee a $8.5 billion World Bank portfolio spanning Mozambique, Madagascar, Mauritius, Comoros, and Seychelles.• His mission...
• Bassirou Diomaye Faye denounces credit rating agencies’ methodologies as ill-suited to African contexts.• Senegal urges reforms to enable fairer...
(AfDB)-The Board of Directors of the African Development Bank Group has approved a $474.6 million loan for South Africa's Infrastructure Governance...
New card enables African payments without using US or European networks Aims to lower costs, protect financial data, and boost intra-African...
Most Read
01

Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...

Telecoms: Lebara Enters Nigerian Market with Strong Competitive Ambitions
02

• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...

Gates Foundation Pledges $1.6 Billion to Gavi to Boost Global Child Vaccination
03

Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...

Côte d’Ivoire’s Fuel Price Cuts Haven’t Slashed Transport Costs–Yet
04

In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...

In Five Years, Francophone Africa Will be A Major Force in African Tech –Régis Bamba
05

• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...

Israel-Iran conflict raises new threats for global shipping and oil trade
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.