RLC acquired a 70.4% stake in Compagnie Marocaine for 2.9 million.
RLC acquired a 70.4% stake in Compagnie Marocaine (ENXTPA:CIEM) for 2.9 million in cash on December 3, 2015. Under the terms, RLC acquired 0.16 million shares in Compagnie Marocaine for 18.3 per share. Jacques Vitalis resigned as Chairman and Chief Executive of Compagnie Marocaine. Emil Veldboer became Chairman and Helene Bussieres became Chief Executive. RLC expects to launch a public tender offer at 18.3 per share for Compagnie Marocaine. RLC does not intend to delist Compagnie Marocaine.
RLC completed the acquisition of a 70.4% stake in Compagnie Marocaine (ENXTPA:CIEM) on December 3, 2015.