The investment vehicle of Morocco’s royal family, The Societe Nationale d’Investissement, is selling its remaining stake in cooking oil producer Lesieur Cristal in a public sale, the stock exchange regulator has said.
The body has already sold interests in Cosumar, the country’s sole sugar supplier, dairy firm Centrale Latiere and Moroccan biscuit maker Bimo. SNI is shifting its focus to energy, mining and telecoms.
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It will sell its 23.6% stake, or 6.29 million shares, at MAD93 (US11.37) each. It has set a reduced price of MAD83 for SNI and Lesieur employees. The fund is expected to raise MAD580m from the sale.
The offer will run from 26-30 May.
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