SOMED explained

SOMED (French: Société Maroco-Emiratie de Développement) 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 Mohammed VI's holding company SNI, Emirati private funds and the Moroccan state.

Ownership

In February 2008, the SNI entered in the capital of the company, buying an equivalent of 1.24 billion Dirhams of shares. The partition then became:^[1]

• 32.9% SNI
• 33.9% Private Emirati funds
• 33.25% Trésor Marocain (Moroccan state)

Former Morocco's Minister of the Interior, Mostapha Sahel was the CEO of the firm.^[2]

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]
    • Al Ain, Fénie Brossette, SFP Zellidja, Atlantis, Africa Palace Maroc, Rebab Company, Delma (owner of Sheraton Casablanca),^[6] Daewoo Rabat (owner of Hilton Rabat)^[6]
• Food Processing and fishing
  • SOPROLIVES
  • UMEP
  • OLICO
• Construction, distribution and Industry
  • SFP Zellidja (Société des Fonderies de Plomb de Zellidja)
  • Fénie Brossette (Fénie Brossette)
  • Société de Développement Automobile (Exclusive distributor of Maserati in Morocco)
• Education
  • Université Internationale de Casablanca (Laureate SOMED Education Holding)

See also

• Les Domaines Agricoles
• Attijariwafa Bank
• SONASID

External links

• SOMED.ma

Notes and References

1. News: La SOMED contrôlée par la partie marocaine. 8 December 2013. Aujourd'hui le Maroc. 4 February 2008. Atika Haimoud.
2. News: Fatim Zahra TOHRY. Les pas de géant du groupe Somed au Maroc. 9 December 2013. L'Economiste. 29 June 2001.
3. News: CDG. LA descente aux enfers. 8 December 2013. TelQuel. 429. Mehdi Michbal. dead. https://web.archive.org/web/20121103194732/http://www.telquel-online.com/archives/429/actu_economie1_429.shtml. 3 November 2012.
4. Web site: Société Maroc Emirats Arabes Unis de Développement - Hôtellerie. 8 December 2013.
5. Web site: REBAB COMPANY. CDG Capital. 8 December 2013.
6. Web site: REBAB COMPANY S.A LIMITED. CDVM. 14 March 2014. April 2006.