Rédaction Africa Links 24 with alm
Published on 2024-04-05 16:56:59
The Transportation Company in Morocco (CTM) announces the acquisition of the majority stake of Bank Of Africa (51%) in the maritime transport company Africa Morocco Link (AML).
The actual completion of the operation is subject to obtaining approvals from the relevant authorities, according to a statement from Bank Of Africa (BOA).
The transaction between Bank Of Africa and CTM, two entities belonging to O Capital Group owned by Othman Benjelloun, will allow the continued development of AML based on CTM’s expertise in passenger and freight transport, the statement said.
Thus, Othman Benjelloun’s group confirms its commitment to continue supporting the development of the national maritime registry in passenger and freight transport.
With this new acquisition, CTM confirms its recent diversification strategy and marks the beginning of a new growth phase to become the leading actor in multimodal mobility of people and goods in Morocco and the region.
AML was established in June 2016 through a partnership between BOA (51%) and the Greek shipping company Attica Holdings SA (49%). The creation of AML was part of a proactive approach undertaken by BOA to preserve and develop the national passenger maritime registry.
AML is headquartered in Tangier and operates ferry connections for both freight and passengers between Tanger Med and Algeciras. This summer, the company is also set to launch a new high-speed connection between Tangier Ville and Tarifa.
Read the original article(French) on Aujourdhui.ma
