DLA Piper acted in the Sale of Majority Stake in Timar to Clasquin Group
DLA Piper, a renowned law firm, played a crucial role as legal counsel in facilitating the sale of the controlling stake of Timar, a publicly listed company on the Casablanca stock exchange.
The historic family group, which controls Timar, decided to sell their stake to Clasquin, a multinational group listed on the French stock exchange that specialises in freight forwarding and the overseas logistics sector.
Clasquin has acquired a majority stake of 63.52 per cent in Timar's share capital as part of the transaction. After the sale, a public tender offer, authorised by the stock exchange regulator, has been conducted.
Timar, based in Casablanca, is a publicly listed company that specialises in the development of innovative solutions for international transport, logistics, and customs. The company has subsidiaries operating throughout Francophone Africa, enabling it to extend its services and expertise across the region.
The matter was handled by a dedicated team from DLA Piper's Morocco office, led by Christophe Bachelet, the Country Managing Partner. Assisting him was Ghita Moussaid, a senior associate who played a significant role in the process.