VOL. XL

No. 42

20-October-1997

MOROCCO

Morocco Sells 62% Of Steel Giant Sonasid

After several missed deadlines (see MEES, 7 April and 12 May), the Moroccanstate has finally sold 62% of its stake in the giant steel firm Sonasid to Moroccan andinternational investors for a total Dh837mn ($87.1mn). The group of buyers was led byMorocco's Societe Nationale d'Investissements (SNI, 20%) and Spanish steel group MarcialUcin (8.5%). Banque Commerciale du Maroc (BCM) acquired a 4% stake, the Morocco Fund...