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Article: Arcelor raises interest in Morocco steelmaker Sonasid in association with SNI and local partners
- Article from:
- Al Bawaba
- Article date:
- June 3, 2006
CopyrightCopyright 2006 Al Bawaba. Provided by ProQuest LLC. (Hide copyright information)
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Arcelor, Socit Nationale d'Investissement (SNI, Morocco) and the
other main shareholders of Sonasid (Socit Nationale de Sidrurgie)
including MAMDA-MCMA, Axa Assurances Maroc, RMA-Watanya, CIMR and
Attijariwafa bank have transferred their interests in Sonasid to an
ad hoc holding company on the basis of a price of MAD 1,350 per
Sonasid share. The transactions were pursuant to the strategic
partnership for the development of Sonasid agreed on by these
companies on March 3, 2006. The holding company now owns 64.86% of
Sonasid's equity.
Sonasid (Socit Nationale de Sidrurgie) is the mainstay of
Morocco's steel industry, taking the number-one place for long steel
products including concrete ...