BUTEC Group concludes external growth operation in Morocco,
reinforcing its African footprint in the Energy and Environment sectors
CASABLANCA, Morocco–(BUSINESS WIRE)–BUTEC Group, a regional leader in the environment, energy, and industrial construction sectors in the Middle East and North Africa, has completed the takeover of the full range of Moroccan businesses of the Société des Eaux de Marseille (SEM), a subsidiary of Veolia Group, by repurchasing the shares of Eaux de Marseille – Maroc (EMM) on January 17, 2024.
EMM caters to a large base of public and private sector customers, in the areas of water and sanitation, and customer relations.
The acquisition of EMM aligns with BUTEC Group’s growth strategy in Africa and the Middle East by combining businesses that are essential for the preservation of the environment through the rationalization of water and energy resources. It follows the most recent acquisition by BUTEC Group of “Energy Services” businesses of ENGIE Group in Africa, which is also the operator of a proactive energy leak detection and repair project in Lebanon on a network serving nearly 2 million consumers.
Speaking on the occasion, Ziad Younès, CEO of BUTEC Group, said: “Through this operation, the group is keen to enhance and upgrade its skills in the management of essential services, more particularly in aspects related to optimizing water resources and reducing water stress.”
About BUTEC GROUP
Based in Beirut and Dubai, BUTEC Group is a privately held group active in Construction and Services, with an entrepreneurial shareholding base complemented by the IFC (World Bank Group) and the management. Since its establishment in 1964, the BUTEC Group has been a regional leader, notably in the environment, energy, oil & gas and industrial construction sectors in the Middle East and North Africa, deploying more than 7,000 employees in about ten countries, with a track record of major projects.
The original source-language text of this announcement is the official, authoritative version. Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the only version of the text intended to have legal effect.
*Source: AETOSWire
Contacts
Lea Assaf
E-mail: lassaf@butec.com
