The Government of Morocco has sold a 40 per cent stake in Marsa Maroc, the state-owned port operator, reaching a transaction value of MAD1.94 billion (US$197 million). 

Marsa Maroc, established in 2006, operates nine ports in the country and provides port logistics services within its concession area. The company is now seeking funds in order to carry out an expansion plan, including developing two other terminals at Casablanca Port, as well as other opportunities in North and West Africa.

This is the first privatization ever accomplished in the country by an initial public offering (IPO) and could stimulate Casablanca's stock market affected by the lack of foreign investment. 

Baker & McKenzie acted as legal advisor in the transaction while Attijari Finances (a subsidiary of Attijariwafa Bank) acted as financial advisor.

Marsa Maroc which is valued at around MAD5 billion has sold 29.36 million shares at MAD65 each, raising MAD1.94 billion (US$197 million), including MAD 600 million from shares sold to individual investors.

Marsa Maroc had 2144 employees and had a global traffic of 35,2 million tons in 2015. The company annual turnover reaches MAD2.17 billion.