SA MEDTECH made an offer to acquire an additional 52.9% in Société Maghrébine de Monétique (CBSE:S2M) for MAD 68.8 million on July 17, 2020. As per terms, 0.43 million shares will be acquired at MAD 160 per share. On the date of announcement, SA MEDTECH holds 39.6% stake in Société Maghrébine de Monétique. Millennium Ventures SARL, which controls SA MEDTECH also holds 7.4% stake in Société Maghrébine de Monétique. Minister of Economy and Finance has not expressed any objection on the takeover bid project. The final schedule of the operation must be approved beforehand by the Casablanca Stock Exchange. The offer commenced on September 28, 2020 until October 16, 2020. BMCE Capital acted as financial advisor to S2M in the transaction. SA MEDTECH completed the acquisition of an additional 32.6% in Société Maghrébine de Monétique (CBSE:S2M) for MAD 42.3 million on October 16, 2020. The offer received acceptances of 0.26 million shares.