Press release from the Competition Council regarding the concentration project involving the exclusive takeover by the company “Managem SA” of the company “Sound Energy Morocco East Limited” through the acquisition of 100% of its share capital and related voting rights

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition as amended and supplemented, and Article 10 of Decree No. 2-14-652 issued for its implementation, the Competition Council makes available to the public the “summary of the transaction” below, containing information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed transaction.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups involved:

• The Acquirer: “Managem SA”;
• The target: “Sound Energy Morocco East Limited”.

Nature of the transaction

• Exclusive takeover.

Economic sectors concerned

• The natural gas supply market.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e. September 16, 2024.

NON-CONFIDENTIAL SUMMARY OF THE TRANSACTION PROVIDED BY THE PARTIES

The Competition Council has received notification of a concentration project whereby the company “Managem SA” intends to acquire 100% of the share capital and voting rights of the company “Sound Energy Morocco East Limited”.

Managem S.A is a Moroccan public limited company registered with the Casablanca Trade Register under No. 17883, with its head office at Twin Center, Tour A, Intersection of Zerktouni and Al Massira Al Khadra boulevards, PO Box No. 5199, Casablanca, Morocco. It is an international mining group operating in several African countries, including Morocco, throughout the mining cycle, from exploration to the marketing of metals, and develops and enhances a diversified and balanced portfolio between gold and metals for energy transition.

Sound Energy Morocco East Limited is a company registered in the United Kingdom under number 05344804, with its head office at 4th floor, 20 St Dunstan’s Hill, London EC3R 8HL. Its main activity is mining.

 

Done in Rabat on September 5, 2024