VOL. XXXIX
No. 37
10-June-1996
MOROCCO
Morocco Sells Stake In Gas Storage Company To Consortium
Morocco's Ministry of Privatization announced on 31 May that the government had sold its 56% stake in Societe Marocaine de Stockage (SOMAS), a gas storage company, to a consortium of eight companies comprising six Moroccan firms plus Shell and Total. The consortium paid MD78.4mn ($9mn) for 56% of SOMAS and agreed to invest MD162mn ($19mn) over the next eight years in an expansion program that...
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