Distra S.A. made a binding offer to acquire Euro Africaine des Eaux from Societe des Boissons du Maroc (CBSE:SBM) on December 8, 2022. Distra S.A. signed an agreement to acquire Euro Africaine des Eaux from Societe des Boissons du Maroc for MAD 380 million on June 8, 2023. Euro Africaine des Eaux has turnover of MAD 240 million.

The disposal project includes all of the group's mineral water activity, including the Ain Ifrane brand, the bottling plant and distribution. The offer is subject to a certain number of conditions precedent, in particular the signing of the definitive transactional documentation, satisfaction of several conditions precedent detailed in the EAE Assignment Agreement, including in particular the obtaining of the required regulatory authorizations such as the authorization of the Moroccan Competition Council and the prior sale by SBM to EAE of the mineral water distribution activity which is currently carried out by SBM. The parties aim to complete the transaction by June 30, 2023.

As of June 8, 2023, The transaction is expected to close during the month of July 2023. Simon Auquier and Chloé Joachim de Larivière of Gide Cuatrecasas Casablanca acted as legal advisor to Societe des Boissons du Maroc.