CTM Poised to Acquire Rival Satcoma-Satas, Consolidating Morocco’s Transport Sector

The Compagnie de Transports au Maroc (CTM) is displaying its big appetite. The agreement concluded with the associates of the Satcoma-Satas company allows it to acquire 100% of the share capital of the latter. But for now, several conditions must be lifted to allow the effective realization of this acquisition operation. To this end, a press release from the company mentions in particular the obtaining of the regulatory authorization of the competition authorities in Morocco.

Created in 1919, CTM has already established itself as the leader in passenger and freight transport in Morocco. Listed on the Casablanca Stock Exchange since 1993, the company intends, through this operation, to fully highlight its development strategy and consolidate its presence in the road passenger transport sector in Morocco, details the same source. And to emphasize that in 2018, the company achieved a turnover of more than 657 million dirhams (MDH), with a fleet of more than 250 buses and 220 freight vehicles.

As for Satcoma-Satas, it was created in 1929. It has 110 vehicles and achieved 100 MDH in turnover, for 1.1 million passengers transported, concludes the press release.