First Independent Mena Newspaper
French Veolia plans to sell its stake in utilities company Lydec, a Casablanca-listed company that manages water supply, electricity distribution, and sewage. Veolia will sell its stakes to Société Régionale Multiservices Casablanca-Settat, in line with authorities’ plan to put utilities under the authority of regional companies owned by the state. Lydec oversees the delegated management […]
After Shell, BNP Paribas has ditched its corporate banking business in South Africa, amid a spate of divestments by major multinationals. BNP Paribas, the largest bank in the EU, withdrew from South Africa after 12 years, as it seeks to consolidate its European and Asian business. BNP Paribas is also part of a series of […]
Shell said it will ditch its downstream business in South Africa by divesting its shares in a local company, ending 120 years of operations there. “Shell has decided to reshape the downstream portfolio and intends to divest our shareholding in Shell Downstream SA (SDSA). Considering SDSA’s illustrious history, this decision was not taken lightly,” the […]