RISMA acquires the Radisson Blu Marrakech and the Carré Eden Shopping Center
RISMA has taken a major step in its expansion strategy with the acquisition of all the shares in the Guéliz Multifunctional Center (CMG), the company owning the “Radisson Blu Hotel Marrakech Carré Eden” hotel and the adjacent “Carré Eden Shopping Center” shopping center. The sale involves two major players. Résidence Siyaha 2, linked to the Maghreb Siyaha Fund – an investment vehicle which contributed to the development of the Carré Eden project – held 66% of CMG and sold its entire stake. The remaining 34% is sold by Cap Estate, owned by O Capital Group. The agreement, signed on July 18, values the company at 931 million dirhams. After deduction of net debt, the amount of the acquisition amounts to 524 million dirhams. In accordance with current regulations, this operation is subject to the fulfillment of several conditions precedent, in particular obtaining authorization from the Competition Council. Created in 1993, RISMA has become the main tourism operator in Morocco by supporting the national tourism development strategy over the years. With a strong presence in 11 cities in the Kingdom, RISMA holds a portfolio of 23 hotel units and covers the luxury, upscale, mid-range and budget hotel segments, offering a wide choice to satisfy the needs of all travelers.
