Anas Sefrioui's Strategic Acquisition of Servier Maroc
In a significant move within Morocco's pharmaceutical sector, Anas Sefrioui has successfully acquired the Moroccan business operations of Servier, a prominent French pharmaceutical group ranked as the second largest in France. This acquisition follows a competitive bidding process that lasted throughout the year, ultimately leading to Sefrioui's company, Pharma Capital SA, outbidding Moncef Belkhayat. The acquisition encompasses the complete share capital and voting rights of both Servier Maroc SA and Servier Maroc Investissements SAS, a notification submitted to Morocco's Competition Council has confirmed. The council has made the summary public as of July 23, allowing interested parties to submit their observations until August 3; however, a ruling has yet to be issued.
Overview of Servier's Operations and Future Prospects
While the exact purchase price remains undisclosed, the acquired entities hold a significant position in Morocco's pharmaceutical landscape. Servier Maroc specializes in the manufacturing, distribution, and sale of pharmaceutical products, focusing on areas such as cardio-metabolism, venous diseases, and oncology. The company operates from its location at Immeuble Zevaco on boulevard Abdelhadi Boutaleb in Casablanca. On the other hand, Servier Maroc Investissements, situated on boulevard Zerktouni, is responsible for managing the commercial and industrial real estate associated with these operations.
Pharma Capital, established at 29 rue de Lille in the Roches Noires district of Casablanca, has a broader investment mandate within the pharmaceuticals and healthcare sectors. Servier, which has had a presence in Morocco since 1996, expanded its plant located in Nouaceur in 2017, providing employment for approximately 150 individuals. This subsidiary reportedly generates annual revenues approaching 360 million dirhams, with a considerable volume of its products exported to markets in West Africa and France.
The sale was facilitated by the Australian investment bank Macquarie, and the initial bidding round attracted seven contenders. Notably, Indian bidders were eliminated early, along with two Moroccan firms, namely Laprophan, led by Farid Bennis, and Bottu, operated by Azzedine Berrada. A consortium comprising Atlas Capital, RIM Pharma, and Afric Invest withdrew after finishing fourth. By May, three candidates remained in the running, with Belkhayat emerging as a frontrunner at that stage.
This acquisition aligns with a broader strategy of consolidation that Pharma Capital embarked on two years ago, which saw the company gain exclusive control over several entities, including Afric-Phar, Pharmis, and Partner Lab. Currently, Pharma Capital holds 95.35 percent of Afric-Phar, 55 percent of Pharmis, and varying interests in Partner Lab. Both Afric-Phar and Pharmis operate out of the Aïn Sebaâ district of Casablanca, focusing on production and distribution, while Partner Lab is engaged in research and development. The acquisition of these companies was reported to be valued at approximately 1.9 billion dirhams.
By adding Servier to its portfolio, Pharma Capital enhances its capabilities in manufacturing, distribution, and research, while also benefiting from an international product range and the real estate that supports these operations. Anas Sefrioui, known for his wealth generated primarily through real estate, founded Douja Promotion Groupe Addoha, which stands as Morocco's largest publicly listed residential developer. In recent years, he has strategically redirected investments into the healthcare sector.
Morocco's pharmaceutical production meets around 65 percent of the national demand, positioning the country as the second-largest producer by volume on the African continent. The World Health Organization categorizes Morocco within the European zone, leading to a growing presence of multinational companies that view the country as a gateway to African markets. Increasingly, Moroccan family-owned businesses are stepping in to acquire assets that multinationals are opting to divest from.
The completion of this transaction is contingent upon the approval of the Competition Council, which must assess the implications of this significant acquisition in the Moroccan pharmaceutical landscape.
As reported by billionaires.africa.
