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Join on Telegram Fez- Morocco’s Competition Council has imposed a fine of nearly MAD 11.7 million ($1 million) on the Swiss company Sika AG for antitrust violations.
On December 6, 2021, the council started investigating Sika AG following a merger by the company without prior notification or approval of the council.
The operation concerns Sika AG’s acquisition of 100% of the capital and voting rights of the French company Financière Dry Mix Solutions SAS.
On May 23, 2019, Sika AG violated articles 12 and 14 of law 104-12, by executing the transaction without prior notification to, or approval from, the council.
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The company is the world’s leading manufacturer and marketer of construction chemicals with subsidiaries in 101 countries, including Morocco.
Sika Morocco became an affiliated company of Sika AG in 1999 and had since built production sites in Casablanca, (Bouskoura, Had Soualem), Agadir, Tangier, and Nador.
Financière Dry Mix Solutions SAS is active in the same business as Sika AG with a subsidiary in Morocco labeled Sodap.
Through the acquisition of Sika France SAS, Sika AG indirectly purchased the shares of Financière Dry Mix Solutions SAS owned by the companies Financière Santec SA (95.13%) and Parman 1, 2, 3, and 4 SAS (4.8%).
The sellers Financière Santec SA and Parman 1,2,3 and 4 SAS are companies whose sole business is the holding and administration of the shares of targeted Financière Dry Mix Solutions SAS.
Sika AG has accepted the pecuniary sanction decided by the competition council in the plenary session on Thursday, April 28.
