Turkish Retailer BIM Considers $70 Million Stake Sale in Moroccan Subsidiary

The amount of the transaction would be around $70 million with a price adjustment that could vary between $7 and $12 million, informs Agence Ecofin, specifying that this proposed sale comes two months after the Turkish group’s decision to evaluate its assets in Morocco and Egypt, with the option of partnerships with local or foreign investors.

At the beginning of the year, recalls the site, the Turkish food distribution chain had closed stores, following a decision by the Moroccan Minister of Commerce. He had accused it of the absence of Moroccan products in its stores.

The outcome of this proposed buyout will be known at the end of the discussions between the two parties, concludes the same source.