(GIDE) - Gide’s Casablanca, Tunis, Brussels and Shanghai offices are assisting Votorantim Cimentos on the sale of its subsidiaries in both Morocco and Tunisia.

Votorantim Cimentos signed an agreement with Heidelberg Materials in September 2024 to sell all of its assets in Morocco to Ciments du Maroc (a subsidiary of Heidelberg Materials), including a 63% share in cement and ready-mix concrete producer Asment de Témara, 100% of the aggregates supplier Grabemaro, and access to an alternative fuels platform for the cement plant. The transaction will be completed after the approval of the Moroccan competition authorities.

Another agreement was signed in July 2024 by Votorantim Cimentos to sell its Tunisian assets to China-based Sinoma Cement, including a 100% of Société Les Ciments de Jbel Oust and 100% of Granulats Jbel Oust. The completion of the Transaction is conditional upon regulatory approvals in China, Tunisia and the Common Market for Eastern and Southern Africa (COMESA)

Gide's team was led by partner Simon Auquier, with counsel Salim Zobiri and associate Constance Holman in Casablanca, and senior associates Anis Jabnoun and Mohamed Essid in Tunis. Partner Ségolène Pelsy and associate Mélanie Gouraud in Brussels handled antitrust issues and merger filing in Morocco, Tunisia and COMESA, and partner Jiannian Fan in Shanghai assisted with the Chinese aspects of the Tunisian transaction.

Heidelberg Materials was assisted by A&O Shearman (Nathalie Zanardo), and Sinoma Cement was assisted by King Wood & Mallesons (Zhenzhen Yu).

About Gide

Gide is a French business law firm with an international dimension. Founded in Paris in 1920, the firm now operates out of 11 offices worldwide. It numbers 500 lawyers drawn from 35 different nationalities, recognised as among the most respected specialists in each of the various sectors of national and international business law. For over 50 years now, Gide has a long-standing presence in Africa. Made up of 90 lawyers dedicated to the continent, Gide Africa assists a wide range of clients and offer a high level of legal assistance tailored to each sector, country and area of law.