SOMED is a conglomerate company based in Morocco. It is active in a range of sectors such as mining, construction material dealership, tourism, real estate development, food processing and car dealership. Its capital is composed of King Mohammed VI's holding company Al Mada, Emirati private funds and the Moroccan state.
Ownership
In February 2008, the SNI (now Al Mada) entered in the capital of the company, buying an equivalent of 1.24 billion Dirhams of shares. The partition then became:[1]
Former Morocco's Minister of the Interior, Mostapha Sahel was the CEO of the firm.[2]
- 32.9% Al Mada
- 33.9% Private Emirati funds
- 33.25% Trésor Marocain (Moroccan state)
Activities
The SOMED developed the Mazagan Beach Resort, Casino, Golf and Spa which it sold to the state-owned institution CDG in 2010 for an undisclosed amount.[3]
Subsidiaries
The companies official websites mentions the following subsidiaries:[4]
- Hotels
- Sheraton Casablanca
- Hôtel Pullman Marrakech Resort and Spa
- Atlas Almohades Casablanca
- Atlas Almohades Agadir
- Atlas Almohades Tanger
- Hôtel Barcelo Fès
- Hôtel Wahate Aguedal Marrakech
- Hôtel Atlas Hospitality Morocco Rabat
- Real-estate
- SOMED Développement
- Diversified
- Zellidja (Rebab company); subsidiaries:[5]
See also
External links
References
- Atika Haimoud. La SOMED contrôlée par la partie marocaine Aujourd'hui le Maroc, 4 February 2008, retrieved 8 December 2013^
- Fatim Zahra TOHRY. Les pas de géant du groupe Somed au Maroc L'Economiste, 29 June 2001, retrieved 9 December 2013^
- Mehdi Michbal. CDG. LA descente aux enfers