Moroccan Competition Council Examines Stellantis' Acquisition of Sopriam
The Moroccan Competition Council announced in a press release last week that it is reviewing the economic concentration project concerning the acquisition by Stellantis Europe S.p.A. of exclusive control over Sopriam S.A. and its subsidiary, Société Générale d'Automobiles SARL.
Stellantis Europe, an Italian company owned by the Agnelli family, was born from the merger between Fiat Chrysler Automobiles (FCA) and the PSA Group. Sopriam, on the other hand, is a Moroccan limited company owned by Al Mada, specializing in the automotive distribution and spare parts sector, operating as the exclusive importer and distributor of three automotive brands in Morocco (Peugeot, Citroën, and DS).
Stellantis has been present in the Kingdom since 2019 and produces 200,000 vehicles per year. By the end of 2022, it announced an investment of over €300 million in its Kénitra plant, aiming to double the site's production capacity and install the "smart car" platform. Stellantis' goal is to reach a production capacity of one million vehicles per year by 2030, while achieving 70% local integration.
The planned acquisition means controlling the entire end-to-end chain, from manufacturing to after-sales service. Interested third parties are invited to submit their observations within a 10-day deadline, i.e., by July 15th.