Sothema sells all of the shares held in its subsidiary Azerys

Sothema sells all of the shares held in its subsidiary Azerys
Sothema sells all of the shares held in its subsidiary Azerys

Lamia Tazi. Credit: Mustapha Razi / Le Desk

The Moroccan Therapeutic Company, Sothema, announced the signing of a contract to sell all of the shares (51%) held in its subsidiary Azerys, for an amount of 35 million dirhams (MDH).

“In accordance with the provisions of Article 15 of Law No. 44-12 relating to public offerings and the information required from legal entities and organizations making public offerings, Sothema announces that it has signed the May 17, 2024, a contract for the sale of all of the shares (51%) held in its subsidiary Azerys”, indicates the company in a press release, specifying that the said transfer contract defines the terms and conditions of the transfer for an estimated amount of 35 MDH.

The transaction will reduce Sothema’s debt level, and the capital gain generated will not have a significant impact on consolidated net income, the same Source said.

Completion of the transaction is not immediate and remains subject to the satisfaction of several conditions precedent detailed in the sale contract, including in particular obtaining the required regulatory authorizations (such as authorization from the Moroccan Competition Council).

The transaction should be completed in June 2024, the press release concludes.

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