Allen & Overy advised a pool of Moroccan institutional investors, including MAMDA, CIMR and RCAR, and Sucden Group on their acquisition of Wilmar group’s entire stake in Cosumar, representing 30.05% of the shares of the company’s capital.
Cosumar’s capitalisation is currently estimated at approximately USD1.8 billion. The transaction has received all applicable regulatory approvals, including the merger control clearance.
Back in 2014, Wilmar entered into Cosumar’s share capital by purchasing – with a pool of Moroccan institutional investors – the entire equity stake of Al Mada (ex-Société Nationale d’Investissement). A&O acted on this transaction as the legal advisor of Al Mada and the Moroccan institutional investors.
A&O team in Casablanca, led by partners Hicham Naciri and Yassir Ghorbal, played a key role in this transaction, advising all the investors including Sucden. The extended team included Nathalie Zanardo, counsel, and senior associates Lamya Kerroumi, Zineb El Kouhen and Karim Mernissi. Anti-trust advice was provided by Sanaa Lahrouni, associate for the Moroccan aspects, and by Roxane Hicheri and Clémence d’Almeida, senior associates, for the multi-jurisdictional analysis.
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