FINANCIAL MARKET HEADLINES
| MOROCCO | MUTANDIS | Signing of the acquisition contract of the mineral water brand "Ain Ifrane"
In a press release, Mutandis announces that its subsidiary Distra has concluded with Société des Boissons du Maroc, on June 8th 2023, a contract defining the disposal’s terms and conditions by SBM of all of the company EAE shares, owner of the mineral wa-ter brand "Ain Ifrane", at a price of MAD 380 Mn.
The acquired water business generated during the FY 2022 a revenue of nearly MAD 240 Mn and a current net income of around MAD 25 Mn. The arrival of Ain Ifrane within the Mutandis Group would constitute a drinks division of more than MAD 350 Mn.
Completion of the transaction is not immediate and remains subject to the satisfaction of several conditions precedent. The aim is to complete the transaction during the month of July 2023.
| CÔTE D’IVOIRE | SIB | Net income down 5% in Q1 2023
At the end of Q1 2023, the NBI of SIB (Société Ivoirienne de Banque) stood at FCFA 23.3 Bn, up 7% y-o-y. Meanwhile, the bank’s net income recorded a decline of 5% to FCFA 11.6 Bn.
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