Stocks Market
Moroccan Competition Council Clears Joint Takeover of CMT by Ayrad Group and CIMR
The Moroccan Competition Council has approved the joint acquisition of CMT by Ayrad Group Limited and the Moroccan Inter‑Professional Retirement Fund (CIMR). The decision removes a key regulatory condition, but CMT’s shares stay suspended on the Casablanca Stock Exchange until a compulsory public takeover bid is launched.
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Regulatory approval granted
The Moroccan Competition Council’s permanent commission, meeting on 13 July 2026, gave the green light to the joint acquisition of CMT by Ayrad Group Limited and the Moroccan Interprofessional Retirement Fund (CIMR). This clearance lifts one of the main conditional hurdles that had been suspending the transaction.
Deal structure
Ayrad Group previously signed an agreement with Strategos Ventures Limited to purchase 100 % of OSEAD Fund, a Luxembourg vehicle that, through the Moroccan company OMM, holds a 37.04 % stake in CMT. The agreed purchase price is US $130 million.
Resulting ownership
Once the transaction is completed, Ayrad Group will indirectly own 37.04 % of CMT, while CIMR will retain a direct 16.12 % holding. Combined, the two shareholders will control 53.16 % of the company’s capital, allowing them to jointly steer CMT.
Next steps
The CMT shares remain suspended on the Casablanca Stock Exchange pending the launch of a mandatory public takeover bid. Investors will need to await the detailed terms of that offer before any further trading can resume.