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Morocco’s transport company CTM acquires 51% stake of AML

Source link : https://africa-news.net/africa/morocco/moroccos-transport-company-ctm-acquires-51-stake-of-aml/

Moroccan transport company Compagnie de Transports au Maroc (CTM) announced the acquisition of Bank of Africa’s (BOA) majority stake (51%) in the shipping company Africa Morocco Link (AML), BOA said on Friday.

The transaction, between entities owned by the same O Capital Group under Othman Benjelloun, will allow AML to leverage CTM’s expertise in passenger and freight transport. This acquisition also marks the beginning of a new growth phase for CTM, solidifying its recent diversification strategy.

AML, founded in June 2016 through a partnership between BOA (51%) and Greek shipowner Attica Holdings SA (49%), is headquartered in Tangier and operates freight and passenger ferries between Tangier Med and Algesiras.

This summer, the company is also set to launch a new high-speed link between Tangier City and Tarifa. The acquisition awaits approval from relevant authorities.

Source link : https://en.yabiladi.com/articles/details/148394/morocco-s-transport-company-acquires-stake.html

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Publish date : 2024-04-05 07:00:00

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Author : africa-news

Publish date : 2024-06-12 12:19:05

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