Clifford Chance advised Wilmar International Limited (Wilmar) in the context of the sale of its 30.05% equity stake in Cosumar S.A (Cosumar) to MAMDA, MCMA, CIMR, RCAR, SUCDEN (French sugar operator) and other Moroccan investors for an amount of MAD 5,962,455,660 (approximately USD 605 million).
Clifford Chance advised Wilmar in 2013 when it acquired a stake in Cosumar, via the purchase of part of the stake of Al Mada (formerly SociĂ©tĂ© Nationale d’Investissement).
Wilmar, listed on the Singapore Exchange, is a leading agribusiness group in Asia that encompasses the entire value chain of the agricultural commodity business. Its activities include among others oil palm cultivation, oilseed crushing, flour and rice milling, sugar milling and refining, manufacturing of consumer products, oleochemicals, biodiesel or fertilizers.
Cosumar, a company listed on the Casablanca Stock Exchange, is the main sugar operator in Morocco.
The Clifford Chance team comprised of Mustapha Mourahib, Managing Partner of the Casablanca office and co-head of the firm Africa practice, Gilles Lebreton, Partner, Hasnaa Bennani, Senior Associate and Cindy Massala Gouaka, Associate. On the antitrust aspects, the team was composed of Jennifer Storey, Partner and Nhi Nguyen, Associate.
