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In accordance with Article 13 of Law No. 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 “summary of the transaction” below, containing the 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 No. 104-12 on freedom of prices and competition as amended and supplemented.
Names of the companies and groups concerned:
- The acquirer: The fund “Al Mada Venture CAP”;
- The target: The company “YolaFresh USA Inc.”.
Nature of the transaction
- Takeover
Economic sectors concerned
- Wholesale trade of fresh fruits and vegetables;
Deadline for interested third parties to submit their observations
- 10 days from the date of publication of this press release, i.e. October 14, 2024.
NON-CONFIDENTIAL SUMMARY OF THE TRANSACTION
The Competition Council has received a notification regarding the acquisition by “Al Mada Venture Cap” of a stake in the share capital of the company “YolaFresh USA Inc”.
“Al Mada Venture Cap” is an investment fund dedicated to technological innovation, primarily supporting startups operating in the African continent.
“YolaFresh USA Inc.” is a U.S.-based startup operating in Morocco in the distribution chain of fruits and vegetables by connecting farmers with distributors.
Done in Rabat, on October 3, 2024.
