Turkish discount retail giant BIM sells 35% share in Moroccan branch for $83.2M

Turkish discount retail giant BIM has announced the sale of a 35% share in its Morocco affiliate in a transaction valued at $83.2 million to the British investment fund Blue Investment Holding. This fund is owned by Helios Investment Partners, which manages several stocks in Africa.

This sale is the implementation of an agreement signed by the Turkish and British companies at the end of last year, recalls Turkish daily Yeni Şafak. 

The sale of BIM on the one hand of its subsidiary in Morocco aims to «maintain the current trend of growth of the branch in the kingdom and to forge partnerships with local and international investors», said BIM in a statement.

In October, the Moroccan branch also announced an upcoming «evaluation of strategic options for its presence in Morocco, including alternatives to partner with local and international investors».