Morocco's leading port operator, Marsa Maroc, said on Tuesday it signed a deal to acquire a 45% stake in Spain's Boluda Maritime Terminals (BMT), a branch of Spain's Boluda Corporacion Maritima for 80 million euros ($94.01 million).
The deal, approved by Marsa Maroc's board, is subject to regulatory clearance, the company said in a statement.
BMT handled more than 1 million containers in 2024 through its nine terminals across mainland Spain and the Canary Islands.
The acquisition would enable Marsa Maroc International Logistics (MMIL), the group's international expansion, to strengthen its positioning on the Spain-Morocco corridor, it added.
Marsa Maroc operates 25 terminals across 11 ports and earlier this year announced plans to expand into West and East Africa, including two terminals at Cotonou port in Benin and an oil and gas terminal at Damerjoud port in Djibouti.
($1 = 0.8510 euros)
(Reuters - Reporting by Ahmed Eljechtimi, Editing by Louise Heavens)