Morocco-Competition

Morocco: Swiss group Sika fined over €1 million

APA - Rabat (Morocco)

The Swiss group Sika AG and its Moroccan public buildings and works sector Sika Maroc SA have been fined more than €1 million by the Moroccan Competition Council. The reason: economic concentration operation without prior notification to the Competition Council and without its green light.

It’s a first in Morocco, the Competition Council has just imposed a substantial sanction on the Swiss group Sika AG and its Moroccan subsidiary, Sika Maroc SA, valued at €1.042 million (11 million DH), for an economic concentration operation without prior notification to the Competition Council and without its approval.

In a press release dated May 4, the Competition Council said the case was referred to it and subsequently, it opened an investigation into the implementation by the Company Sika AG in 2019 of an economic concentration operation without prior notification to the Competition Council and approval of the latter, in violation of Articles 12 and 14 of Law 104-12.

This operation, according to the statement, concerns the acquisition by the company Sika AG of 100 percent of the capital and voting rights of the company “Financiere Dry Mix Solutions SAS,” adding that the companies are active in the market for the manufacture and marketing of construction chemicals and mortars through their subsidiaries Sika Morocco and Sodap.

Taking note of this decision, the penalized company has agreed to pay, the same source said, adding that this amount of the fine would be paid to the state budget.

World leader in the manufacture and marketing of construction chemicals, Sika AG is a joint stock company under Swiss law. It has subsidiaries in 101 countries around the world.

This binding sentence confirms, without any doubt, that the Moroccan Competition Council is determined to fully play its role of market regulator. Certainly, the Council has many burning issues on the table, such as hydrocarbons.


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