Unimer SA (CBSE:UMR) signed a memorandum of agreement to acquire Consernor SA for approximately MAD 200 million on June 20, 2012. Unimer SA shall issue 1.4 million shares at an exchange ratio of 35 Unimer's shares for 1 Consernor's share. Kabbaj Said, Kabbaj Moncef, Kabbaj Hind, Kabbaj Abdelkader, Kabbaj Habiba, Kabbaj Abdeljalil, and Kabbaj Alia will sell their stake in the company. As of November 5, 2012, Unimer SA signed a merger proposal to acquire Consernor SA.

The merger proposal is subject to approval from shareholders of Unimer SA and Consernor SA in the Extraordinary General Meetings scheduled on November 21, 2012. And board of Unimer should also approve the deal.. The transaction is subject to obtaining withdrawal on Consernor¡ assets, obtaining the withdrawal on Consernor¡'s shares held by Saretam. The deal has been approved by CDVM. If the approvals above had not intervened by December 31, 2012, the agreement will be considered null and void, without any compensation on either of other. The shares exchange is expected to take place on November 30, 2012. BMCE Capital Conseil acted as financial advisor to Unimer SA.

Unimer SA (CBSE:UMR) completed the acquisition of Consernor SA in 2012.