TIMAR: Takeover by the Clasquin Group

The parties would have entered into exclusive negotiations for the completion of the operation, which should be followed by a mandatory takeover bid for TIMAR shares. This acquisition should enable the CLASQUIN Group, which has been operating on France-Morocco flows for more than 30 years, to strengthen its Brokerage/Ro-Ro division thanks to the experienced TIMAR teams, to expand the service offer to the Europe/Maghreb markets, to consolidate its development strategy in the Euromed zone and benefit from an integrated network of operational subsidiaries in Sub-Saharan Africa. Olivier Puech should, for his part, continue his functions in the General Management of TIMAR with his Management teams. The operation should be completed during H1 2023 knowing that the offer is subject to a certain number of conditions precedent and to the prior authorization of the Competition Council. The price of the transaction, however, has not been disclosed. Recall that the TIMAR Group posted at the end of H1 2022 consolidated revenues up by +24% to 329 million dirhams under the effect of the increase in volume handled by the main subsidiaries of the Group and a profit capacity jumping by + 88% at 10.7 MDH.

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