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In accordance with Article 13 of Law 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation as amended and supplemented, the Competition Council makes available to the public the following ‘operation summary’ 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 operation.
The publication of this statement does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.
Names of companies and individuals involved:
- The acquirer: “Tourism Property Morocco SA”;
- The target: “Résidences Suncity SA”.
Nature of the operation:
- Exclusive takeover.
Economic sector concerned:
- Hotel services market.
Deadline for interested third parties to submit their observations:
- 10 days from the date of publication of this statement, i.e., April 15, 2024.
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES
The Competition Council received a notification of an economic concentration operation concerning the exclusive takeover by the company ‘Tourism Property Morocco SA’ (TPM) of the company ‘Résidences Suncity SA’, through the acquisition of 50% of its share capital and voting rights.
‘TPM’ is a Moroccan joint-stock company active in the hotel sector.
‘Résidences Suncity SA’ is a Moroccan joint-stock company holding the real estate assets of The View Rabat hotel.
Done in Rabat on April 4, 2024
