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Zalagh Holding opens its capital to the Seaboard group


Zalagh Holding, one of the leading groups in the Moroccan poultry sector, has announced the sale of 12% of its capital, the equivalent of 176 million Dirhams, to the American industrial conglomerate, Seaboard Corporation, specializing in the food industry, trading, flour milling and shipping.


This merger operation, facilitated by the investment bank Ascent Capital Partners as exclusive financial advisor to Zalagh Holding, comes almost two years after the participation of Société Financière Internationale (subsidiary of the World Bank) in the capital of the holding company.


The transaction is also part of the two groups' international expansion plan, particularly in sub-Saharan Africa, where they plan to strengthen their presence there, said a press release from Zalagh Holding.


Beyond its significant impact on the capitalization and cash flow of the Moroccan group, the contribution of Seaboard will support Zalagh Holding in the implementation of new external growth projects, that is to say through the establishment of new units production or processing of poultry products, either by strengthening the structures in operation. It remains for the management of the two groups to set the choice of the target action area.


"Despite a global context where the poultry sector is experiencing some difficulties, our solid fundamentals and good growth prospects have led Seaboard to support our development strategy" said Ali Berbich, Chairman of the Executive Board of Zalagh Holding.

The arrival of the new American partner, who has a quality network and solid expertise in certain trades related to the poultry sector, he added, should facilitate "the implementation of new external growth projects both within the kingdom and in neighboring countries "and" allow us to broaden our horizons and exploit new sources of profitability ".


Source: http://agripeche.com