Morocco: IFC seeks buyer for its 15% interest in Zalar Holding
Tuesday, 19 December 2017 17:18
According to Moroccan media, the International Financial Corporation (IFC) plans to exit the shareholding of Zalar Holding, one of the country’s largest poultry company, this four years after entering it.
World Bank’s arm in charge of private sector in developing countries is looking for a candidate to buy its 15% interest in the company which was founded in 1974 by Mohammed Chaouni.
IFC entered Zalar’s shareholding in November 2013 through a $24 million investment. This allowed the World Bank’s institution to acquire 17.9% of the firm, an interest that was reduced to 15% in 2015.
The investment’s goal was to strengthen the financial structure of the company and to support its development plan. Zalar Holding also operates in the food sector and owns about 20 subsidiaries whose sectors of activities include trading, animal nutrition, incubation, farming, slaughtering and processing.
Chamberline Moko
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