Erste – 08.03.2012
BIM announced that it would pay a total of MAD 150mn (~USD 18mn) in three installments to its Morocco based 100% subsidiary BIM Stores SARL within the context of a capital increase at the company from MAD 100mn to MAD 250mn.
BIM’s Moroccan operations comprise less than 1% of its consolidated top line; thus, they have a limited impact on the consolidated financials. We do not see any meaningful contribution from the Moroccan operations in the foreseeable future either, given the relatively negligible size of the operations in the country (i.e. 64 stores in Morocco as of end 2011 vs. 3,227 in Turkey).
Source: bne
