DLA Piper has provided legal counsel to the historic family group controlling Timar, a publicly listed company on the Casablanca stock exchange, in the sale of its controlling stake to Clasquin, a multinational group listed on the French stock exchange specializing in freight forwarding and the overseas logistics sector.
In this transaction, Clasquin has acquired a majority stake of 63.52% in Timar’s share capital. Following the sale, a public tender offer (offer publique d’achat) authorized by the stock exchange regulator has taken place. Timar, headquartered in Casablanca, is a listed company specializing in the development of innovative solutions for international transport, logistics, and customs, with subsidiaries operating across Francophone Africa.
A team from DLA Piper’s Morocco office worked on the matter and was led by Christophe Bachelet, Country Managing Partner (pictured), and was assisted by senior associate Ghita Moussaid.