DOCSLIB.ORG

اﻟﻤﻤﻠﻜﺔ اﻟﻤﻐﺮﺑﯿﺔ the Kingdom of Morocco

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
اﻟﻤﻤﻠﻜﺔ اﻟﻤﻐﺮﺑﯿﺔ the Kingdom of Morocco اﻟﻤﻤﻠﻜﺔ اﻟﻤﻐﺮﺑﯿﺔ THE KINGDOM OF MOROCCO U.S.$750,000,000 2.375% Notes due 2027 - Issue price: 99.763% U.S.$1,000,000,000 3.000% Notes due 2032 - Issue price: 99.570% U.S.$1,250,000,000 4.000% Notes due 2050 - Issue price: 100.000% The U.S.$750,000,000 2.375% Notes due 2027 (the “2027 Notes”), the U.S.$1,000,000,000 3.000% Notes due 2032 (the “2032 Notes”) and the U.S.$1,250,000,000 4.000% Notes due 2050 (the “2050 Notes” and, collectively with the 2027 Notes and the 2032 Notes, the “Notes”) to be issued by the Kingdom of Morocco (the “Issuer”, the “Kingdom” or “Morocco”), will mature on 15 December 2027, in respect of the 2027 Notes, on 15 December 2032, in respect of the 2032 Notes, and on 15 December 2050, in respect of the 2050 Notes, and, unless previously purchased and cancelled, will be redeemed at their principal amount on that date. See “Terms and Conditions of the Notes—5. Redemption, Purchase and Cancellation”. The 2027 Notes will bear interest from and including 15 December 2020 (the “Issue Date”) at a rate of 2.375% per annum payable semi-annually in arrear on 15 June and 15 December in each year, commencing on 15 June 2021. The 2032 Notes will bear interest from and including the Issue Date at a rate of 3.000% per annum payable semi-annually in arrear on 15 June and 15 December in each year, commencing on 15 June 2021.The 2050 Notes will bear interest from and including the Issue Date at a rate of 4.000% per annum payable semi-annually in arrear on 15 June and 15 December in each year, commencing on 15 June 2021. Payments on the Notes will be made in U.S. Dollars without deduction for, or on account of, any Moroccan withholding taxes, unless the withholding is required by law, in which case the Issuer will pay additional amounts in respect of such taxes, subject to certain exceptions as set forth in “Terms and Conditions of the Notes—7. Taxation” and “Taxation”. AN INVESTMENT IN THE NOTES INVOLVES CERTAIN RISKS. SEE “RISK FACTORS” The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or any U.S. state securities laws and are being offered and sold in the United States only to qualified institutional buyers (“QIBs”) (as defined in Rule 144A under the Securities Act (“Rule 144A”) pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Prospective purchasers that are QIBs are hereby notified that the seller of Notes may be relying on the exemption from the provisions of Section 5 of the Securities Act provided by Rule 144A (such Notes so offered and sold, the “Rule 144A Notes”). In addition, Notes are being offered outside the United States in reliance on Regulation S under the Securities Act (“Regulation S”, such Notes so offered and sold, the “Regulation S Notes”). Transfers of Notes are subject to the restrictions described under “Transfer Restrictions”. This prospectus (the “Prospectus”) has been approved by the Commission de Surveillance du Secteur Financier (the “CSSF”), as competent authority under Regulation (EU) 2017/1129 (the “Prospectus Regulation”). This Prospectus constitutes a prospectus for the purposes of the Prospectus Regulation and has been drawn up in accordance with Article 6 of the Prospectus Regulation. The CSSF only approves this Prospectus as meeting the standards of completeness, comprehensibility and consistency imposed by the Prospectus Regulation. Such approval should not be considered as an endorsement of the Issuer or the quality of the Notes that are the subject of this Prospectus and investors should make their own assessment as to the suitability of investing in the Notes. The CSSF gives no undertaking as to the economic and financial soundness of the transaction or the quality or solvency of the Issuer. Application has been made to the Luxembourg Stock Exchange for the Notes to be admitted to trading on the Luxembourg Stock Exchange’s Regulated Market (the “Market”) and to be listed on the Official List of the Luxembourg Stock Exchange (the “Official List”). References in this Prospectus to the Notes being “listed” (and all related references) shall mean that the Notes have been admitted to the Official List and have been admitted to trading on the Market. The Market is a regulated market for the purposes of Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments (as amended, “MiFID II”). There is no assurance that a trading market in the Notes will develop or be maintained. The Issuer also intends to apply for the Notes to be listed and admitted to trading on the regulated market of the London Stock Exchange plc, together with an admission to trading on the Market of the Luxembourg Stock Exchange. See “Notification to Competent Authority in Other EEA Member States”. This Prospectus is valid for 12 months from its date. The obligation of the Issuer to supplement this Prospectus in the event of a significant new factor, material mistake or material inaccuracy will cease to apply once the Notes have been admitted to the Market and at the latest when the Prospectus is no longer valid. The Notes will be offered and sold in registered form in denominations of U.S.$200,000 and any amount in excess thereof that is an integral multiple of U.S.$1,000. Notes of each series that are offered in reliance on Regulation S will be represented by beneficial interests in an unrestricted global note certificate (each, a “Regulation S Global Note”) in registered form without interest coupons attached, which will be registered in the name of a nominee for, and shall be deposited on or about the Issue Date with a common depositary for, Euroclear Bank SA/NV (“Euroclear”) and Clearstream Banking S.A. (“Clearstream, Luxembourg”). Beneficial interests in each Regulation S Global Note will be shown on, and transfers thereof will be effected only through, records maintained by Euroclear and Clearstream, Luxembourg and their participants. Notes of each series that are offered in reliance on Rule 144A will initially be represented by a restricted global note certificate (each, a “Rule 144A Global Note” and, the Rule 144A Global Notes together with the Regulation S Global Notes, the “Global Notes”) in registered form, without interest coupons attached, which will be deposited with a custodian (the “Custodian”) for, and registered in the name of, Cede & Co., as nominee of, The Depository Trust Company (“DTC”) on or about the Issue Date. Beneficial interests in the Rule 144A Global Note will be shown on, and transfers thereof will be effected only through, records maintained by DTC and its participants. See “Clearing and Settlement Arrangements”. Except as described herein, definitive registered certificates evidencing holdings of Notes issued in exchange for beneficial interests in the Global Notes will be available only in certain limited circumstances. See “Provisions Relating to the Notes in Global Form”. Long-term foreign-currency debt of the Kingdom is currently rated BBB- with a negative outlook by S&P Global Ratings Europe Limited (“S&P”) and BB+ with a stable outlook by Fitch Ratings Limited (“Fitch”). The Notes are expected to be rated BBB- by S&P and BB+ by Fitch. A rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension, reduction or withdrawal at any time by the assigning rating organisation. The credit ratings included or referred to in this Prospectus will be treated for the purposes of Regulation (EC) № 1060/2009 on credit rating agencies (the “CRA Regulation”) as having been issued by S&P and Fitch, respectively. Each of S&P and Fitch is established in the European Union (the “EU”) and is registered under the CRA Regulation. As such, each of S&P and Fitch is included in the latest update of the list of registered credit rating agencies published by the European Securities and Markets Authority on its website (http://www.esma.europa.eu/page/List-registered-and-certified-CRAs) in accordance with the CRA Regulation as of the date of this Prospectus. Any change in the rating of the Notes could adversely affect the price that a purchaser will be willing to pay for the Notes. See “Risk Factors—Risks Relating to the Kingdom—Other Risks Relating to the Kingdom—The Kingdom’s Credit Rating”. Joint Lead Managers Barclays BNP Paribas J.P. Morgan NATIXIS The date of this Prospectus is 14 December 2020. RESPONSIBILITY STATEMENT The Kingdom accepts responsibility for the information contained in this Prospectus. To the best of the knowledge and belief of the Kingdom (having taken all reasonable care to ensure that such is the case), the information contained in this Prospectus is in accordance with the facts and does not omit anything likely to affect the import of such information. The opinions, assumptions, intentions, projections and forecasts expressed in this Prospectus with regard to the Kingdom are honestly held by the Kingdom, have been reached after considering all relevant circumstances and are based on reasonable assumptions. Information included herein that is identified as being derived from information published by the Kingdom or one of its agencies or instrumentalities is included herein on the authority of such publication as a public official document of the Kingdom. All other information herein with respect to the Kingdom is included herein as a public official statement made on the authority of the Ministry of Economy, Finance and Administration Reform.
Load more

Recommended publications
  • World Bank Document
    Public Disclosure Authorized Morocco Infrastructure Review May 2020 (originally published in French in December 2019) Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Final version © 2020 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW, Washington, DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org This work was originally published by the World Bank in French in 2019. In case of discrepancies, the original language should prevail. This work is a product of the staff of The World Bank with external contributions. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given. Please cite the work as follows: 2020. Morocco Infrastructure Review. World Bank, Washington D. C. Any queries on rights and licenses, including subsidiary rights,
    [Show full text]
  • Energies Vertes Et Efficacité Énergétique
    Chambre Française de Commerce et d’Industrie du Maroc www.cfcim.org 51e année Numéro 938 15 juin - 15 juillet 2012 Dispensé de timbrage autorisation n° 956 ConjonctureLE MENSUEL DES DÉCIDEURS L’invité de ConjonCTURE M’HaMED SAGOU Energies vertes et efficacité énergétique ECHOS MarOC Indicateurs économiques et financiers induStriE Comment optimiser ses profits ? ManagEMEnt Conseils pratiques pour réussir son recrutement L’actualité vue par le Service économique de l’Ambassade de France Le Coin des Adhérents : Nouveaux Adhérents CFCIM - Opportunités d’affaires - Emploi Editorial Conjoncture « Une nouvelle formule plus moderne et plus pratique » Joël Sibrac Président Nouvelle maquette, nouvelles rubriques, nouvelle organisation : votre revue Conjoncture a profité du printemps pour se faire « relooker » en profondeur. Un travail de fond mené par l’équipe de Conjoncture, Comité de rédaction en tête, afin de répondre au plus près à vos attentes et d’ancrer la revue dans un environnement informationnel en constante évolution. Comme vous pourrez le constater en feuilletant ce premier numéro « nouvelle formule », Conjoncture a adopté une mise en page moderne, aérée, qui facilite la lecture. Sur le fond, la revue est désormais divisée en trois parties : une première dédiée à l’actualité de votre Chambre et à la conjoncture marocaine et internationale. Elle est suivie par le « Zoom du mois », en milieu de revue, qui traite d’une problématique sectorielle ou transversale de l’économie marocaine. Enfin, la nouvelle rubrique « Regards d’experts » vous donne la parole pour faire profiter de votre expertise l’ensemble de notre communauté d’adhérents. En bref, Conjoncture se présente désormais comme une véritable « boîte à outils » à dispositionCEFOR entreprises des dirigeants qui nous font confiance.
    [Show full text]
  • Rapport Financier Annuel 2020
    RAPPORT FINANCIER ANNUEL 2020 1 RAPPORT FINANCIER ANNUEL 2020 RAPPORT FINANCIER ANNUEL 2020 2 3 RAPPORT FINANCIER ANNUEL 2020 RAPPORT FINANCIER ANNUEL 2020 RAPPORT FINANCIER ANNUEL 2020 RÉPONSES DE MARSA ENVIRONNEMENT ET MAROC FACE À LA PANDÉMIE PRÉSERVATION DU MILIEU DE LA COVID-19 32 NATUREL, UNE PRIORITÉ 88 1. RAPPORT ESG 8 ‣ Continuité des activités et préservation ‣ La préservation de l’environnement, une MOT DU PRÉSIDENT de la santé des collaborateurs, deux orientation stratégique de Marsa Maroc 92 DU DIRECTOIRE 12 priorités du plan de riposte 36 ‣ Réduction des émissions de Gaz à Effet ‣ Engagement vis-à-vis de Serre (GES) 95 À PROPOS DU des parties prenantes pendant ‣ Efficacité énergétique 96 la pandémie 46 GROUPE MARSA MAROC 14 ‣ Réduction et élimination des déchets 97 ‣ Préservation de la ressource « Eau » et des « Océans » 98 ‣ Profil du Groupe 16 VERS UNE MEILLEURE ‣ Prévention de la pollution du sol 98 ‣ Structure de l’actionnariat GOUVERNANCE 50 de Marsa Maroc 18 ‣ Activités et services 19 ‣ La gouvernance de Marsa Maroc 52 ‣ Filiales du Groupe 20 ‣ L’éthique, une ligne de conduite ‣ Présence géographique ancrée chez Marsa Maroc 63 et nature de trafics traités 21 ‣ La prévention du délit d’initié 63 LA RESPONSABILITÉ SOCIÉTALE DE LE CAPITAL HUMAIN, MARSA MAROC, UNE UN VECTEUR DE CROISSANCE 66 APPROCHE STRATÉGIQUE 22 ‣ Engagés en continu pour le 74 COMMUNAUTÉS, POUR ‣ Stratégie de responsabilité UN IMPACT SOCIAL POSITIF 100 développement des collaborateurs sociétale et environnementale 24 ‣ Favoriser le bien-être des 80 ‣ Contribution aux Objectifs de collaborateurs ‣ Pour un impact social positif 104 SOMMAIRE Développement Durable (ODD) 25 ‣ La santé et la sécurité au travail, ‣ Pour la promotion des arts vivants 108 ‣ Parties prenantes du Groupe au coeur des préocucupations du ‣ Pour la promotion du sport 108 et thématiques ESG 26 Groupe.
    [Show full text]
  • Communication Financière Résultats Annuels Au 31 Décembre 2020
    Communication financière Résultats annuels au 31 décembre 2020 Communication financière Publication semestrielle Octobre 2016 Avertissement Cette présentation a été préparée par Marsa Maroc strictement à des fins de discussion, et peut contenir des déclarations et éléments de nature prévisionnelle relatifs à la situation financière, aux résultats des opérations, à la stratégie et aux perspectives de Marsa Maroc ainsi qu’aux impacts de certaines opérations. Même si Marsa Maroc estime que ces déclarations prospectives reposent sur des hypothèses raisonnables, elles ne constituent pas des garanties quant à la performance future de la société. Les résultats effectifs peuvent être très différents des déclarations prospectives en raison d'un certain nombre de risques et d'incertitude. Evolution de l’activité portuaire nationale Principaux faits marquants Principaux indicateurs opérationnels de Marsa Maroc Revue financière de l’activité de Marsa Maroc Evolution de l’activité portuaire nationale Evolution du trafic national* Taux de croissance par segment de trafics En million de tonnes Evolution TCAM 17-20 : +3,3 % Type de trafic 19/20 +3,9% 107 103 Vracs solides +11,5% +3,3% (tonnage) +2,6% 100 97 TIR* +0,7% (Unités) Conteneurs* -2,0% (EVP) Vracs liquides (tonnage) -4,6% 2017 2018 2019 2020 Divers -10,5% Evolution du trafic national hors trafics en compte propre ** (tonnage) TCAM 17-20 : -0,1% En million de tonnes +0,5% 55 55 -3,4% 53 +2,6% 53 • Y compris estimation du trafic national à Tanger Med ** retraité des trafics réalisés dans les terminaux
    [Show full text]
  • Weather Investment
    Invest in the MEDA region, why, how ? Algeria Egypt / Israel / Jordan / Lebanon / Libya / Morocco / Palestinian Authority/ Syria / Tunisia / Turkey PAPERS & STUDIES n°22 April 2007 Collective work driven by Sonia Bessamra and Bénédict de Saint-Laurent Invest in the MEDA region, why how ? References This document has been produced within the context of a mission entrusted by the European Commission to the Invest in France Agency (AFII), assisted by the Istituto Nazionale per il Commercio Estero, ICE (Italy) and the Direction des Investissements, DI (Morocco), to develop a Euro‐Mediterranean Network of Mediterranean Investment Promotion Agencies (« ANIMA»). The n°of the contract is: ME8/B7‐4100/IB/99/0304. ISBN: 2‐915719‐28‐4 EAN 9782915719284 © AFII‐ANIMA 2007. Reproduction prohibited without the authorisation of the AFII. All rights reserved Authors This work is the second edition of a synopsis guide realised with contributions from various experts working under the ANIMA programme, especially for the writing of the project web site pages. The following authors have participated in the two editions: In 2006, Sonia Bessamra (free‐lance consultant) and Bénédict de Saint‐ Laurent (AFII) have fully updated the content, assisted by Pierre Henry, Amar Kaddouri, Emmanuel Noutary and Elsa Vachez (ANIMA team, translation, revisions); The former 2004 edition, which provides the guide frame, was directed by Bénédict de Saint‐Laurent (ANIMA, co‐ordination, synopsis, rewriting, data), Stéphane Jaffrin (ANIMA, on line implementation, some updates) and Christian Apothéloz (free‐lance consultant, co‐ordination), assisted by Alexandre Arditti, Delphine Bréant, Jean‐François Eyraud, Jean‐Louis Marcos, Laurent Mauron, Stéphanie Paicheler, Samar Smati, Nicolas Sridi et Jihad Yazigi (various thematic or country articles).
    [Show full text]
  • Volume VIII Issue 2(24) Summer 2013
    Journal of Applied Economic Sciences Volume VIII Issue 2(24) Summer 2013 I.S.S.N. 1843-6110 127 Journal of Applied Economic Sciences Editorial Board Editor in Chief International Relations Responsible Laura ŞTEFĂNESCU Pompiliu Constantinescu Managing Editor Mădălina CONSTANTINESCU Proof – readers Ana-Maria Trantescu - English Executive Editor Mihaela Galiceanu Redactors Cristiana Bogdănoiu Sorin Dincă Editorial Advisory Board Claudiu Albulescu, University of Poitiers, France, West University of Timişoara, Romania Aleksander Aristovnik, Faculty of Administration, University of Ljubljana, Slovenia Cristina Barbu, Spiru Haret University, Romania Christoph Barmeyer, Universität Passau, Germany Amelia Bădică, University of Craiova, Romania Gheorghe Bică, Spiru Haret University, Romania Ana Bobîrcă, Academy of Economic Science, Romania Anca Mădălina Bogdan, Spiru Haret University, Romania Jean-Paul Gaertner, l'Institut Européen d'Etudes Commerciales Supérieures, France Shankar Gargh, Editor in Chief of Advanced in Management, India Emil Ghiţă, Spiru Haret University, Romania Dragoş Ilie, Spiru Haret University, Romania Elena Doval, Spiru Haret University, Romania Arvi Kuura, Pärnu College, University of Tartu, Estonia Ion Viorel Matei, Spiru Haret University, Romania Piotr Misztal, Technical University of Radom, Economic Department, Poland Marco Novarese, University of Piemonte Orientale, Italy Rajesh Pillania, Management Development Institute, India Russell Pittman, International Technical Assistance Economic Analysis Group Antitrust Division,
    [Show full text]
  • Note D'information
    SUMMARY PROSPECTUS Societé d’Exploitation des Ports INITIAL PUBLIC OFFERING THROUGH THE SALE OF SHARES FIRM QUOTE Reference share price (excluding discount or premium specific to a type of order): MAD 65 Par value: MAD 10 Number of shares for sale: 29 358 240 shares Global amount of the transaction: Between MAD 1 909 785 040 and MAD 1 939 840 539 Subscription period: from June 20th 2016 to June 30th 2016, inclusive Possibility of early closure as of June 23th 2016 This offer is not intended for monetary, bond, and contractual UCITS Financial advisory Lead Underwriter Members of the underwriting syndicate CFG Marchés Approval of the Moroccan Capital Markets Authority (AMMC) In accordance with the provisions of the AMMC's circular, based on article 14 of Dahir providing law No. 1-93-212 of 21 September 1993 as amended and supplemented, the original version of this prospectus was approved by the AMMC on June 10th 2016 - under reference No. VI/EM/014/2016. Disclaimer The Moroccan Capital Markets Authority (AMMC) approved a prospectus on June 10th, 2016 relating to the initial public offering (IPO) of Marsa Maroc through the sale of shares. The prospectus approved by the AMMC is available at any time, or within 48h, at the following locations: . at the head office of Marsa Maroc located at 175, boulevard Mohamed Zerktouni, Casablanca; . at the headquarters of Attijari Finances Corp. located at 163, Avenue Hassan II, 20000, Casablanca; . from the institutions responsible for receiving subscription orders. This summary prospectus is only an excerpt of the prospectus approved by the the AMMC.
    [Show full text]
  • Diapositive 1
    Investor presentation April 2020 Communication financière Publication semestrielle Octobre 2016 Company at a glance : the leading port operator in Morocco 37.9 million Mad 2 909 mn of tons EUR 262 mn Consolidated turnover Traffic (2019) (2019) 37% market Mad 1 361 mn share EUR 123 mn Market share Consolidated EBITDA (2019) 60% Moroccan state Mad 671 mn 30% free float 10% pool of 3 investors EUR 61 mn Consolidated Net Income Shareholder structure (2019) 2 Business model of Marsa Maroc GATEWAY Ships Dock Storage Truck unloading / Entry / loading exit of the port Import flows Export flows 1 Maritime services (towing, 7% of steering, boatage, etc.) turnover * 2 Handling (loading/unloading vessels and transfer of cargo Storage and Truck loading/ to storage area.) unloading 92% of turnover * 3 Other services : services to ships, weighing, etc. 1% of turnover * Financing contracts, Concession Port authorities subcontracts, etc. agreements Third parties • 9 ports via the concession contract with the ANP Business • 1 terminal (TC3 Casablanca) conceded by the contracts ANP • 1 terminal (TC3 Tanger Med) conceded by TMPA • 1 terminal (Quai Nord Agadir) conceded by ANP Clients / suppliers to a subsidiary controlled by Marsa Maroc (51%) (*) 2018 3 Key Investment Drivers Morocco: a growing Gateway market An experienced Marsa Maroc, a team and a leading port solid corporate operator in governance Morocco Operational performance Identified meeting the growth drivers highest for the future standards a yield value with an Sound financial attractive situation
    [Show full text]
  • The Maritime Transportation of Goods in Morocco
    Kingdom of Morocco Department of Studies and Financial Forecasts The maritime transportation of goods in Morocco Evolution and prospects ES DEPF I TUD S march 2016 March 2016 Le transport maritime des marchandises au Maroc : Evolution et perspectives Table of contents Table of contents………………………………………………………………………..…… 2 List of the graphs …………………………………………………………………………… .3 List of tables ……………………………………………………………………….…………...4 Introduction …………………………………………………………………………….…..….5 1. Analysis of the demand of the Moroccan sea transport………………………….6 1.1. A demand strongly bound to the trade…………………………………….………6 1.2. As well as in the world maritime traffic ……………………………….………….8 1.3. A demand dominated by the solid bulk traffic……………………………….. 9 1.3.1. Export traffic of the phosphate……………………………………………….…...9 1.3.2. Export traffic of natural and chemical fertilizers with a diversification of the destinations ……………………………………………………………..………………………12 1.3.3. Import Traffic of cereal dependent on the national production ………..14 1.3.4. Import Traffic of coal ……………………………………………………….………16 1.3.5. Import Traffic of Sulfur………………………………………………………….. 19 1.4. … As well as by the liquid bulk traffic................................................…...20 1.4.1. Import Traffic of hydrocarbons ………………………………………………….20 1.4.2. Export Traffic of the phosphoric acid and the import traffic of ammonia ……………………………………………………………………………………… ..25 2. The offer of the maritime transport (two opposite trends) ……………… ….26 2 Le transport maritime des marchandises au Maroc : Evolution et perspectives 2.1.
    [Show full text]
  • Who Else Profits the Scope of European and Multinational Business in the Occupied Territories
    WHO ELSE PROFITS The Scope of European and Multinational Business in the Occupied Territories SECOND RepORT | NOVEMBER 2018 A Saharawi woman waving a Polisario-Saharawi flag at the Smara Saharawi refugee camp, near Western Sahara’s border. Photo credit: FAROUK BATICHE/AFP/Getty Images WHO ELse PROFIts The Scope of European and Multinational Business in the Occupied Territories This report is based on publicly available information, from news media, NGOs, national governments and corporate statements. Though we have taken efforts to verify the accuracy of the information, we are not responsible for, and cannot vouch, for the accuracy of the sources cited here. Nothing in this report should be construed as expressing a legal opinion about the actions of any company. Nor should it be construed as endorsing or opposing any of the corporate activities discussed herein. ISBN 978-965-7674-58-1 CONTENTS INTRODUCTION 2 WORLD MAp 7 WesteRN SAHARA 9 The Coca-Cola Company 13 Norges Bank 15 Priceline Group 18 TripAdvisor 19 Thyssenkrupp 21 Enel Group 23 INWI 25 Zain Group 26 Caterpillar 27 Biwater 28 Binter 29 Bombardier 31 Jacobs Engineering Group Inc. 33 Western Union 35 Transavia Airlines C.V. 37 Atlas Copco 39 Royal Dutch Shell 40 Italgen 41 Gamesa Corporación Tecnológica 43 NAgoRNO-KARABAKH 45 Caterpillar 48 Airbnb 49 FLSmidth 50 AraratBank 51 Ameriabank 53 ArmSwissBank CJSC 55 Artsakh HEK 57 Ardshinbank 58 Tashir Group 59 NoRTHERN CYPRUs 61 Priceline Group 65 Zurich Insurance 66 Danske Bank 67 TNT Express 68 Ford Motor Company 69 BNP Paribas SA 70 Adana Çimento 72 RE/MAX 73 Telia Company 75 Robert Bosch GmbH 77 INTRODUCTION INTRODUCTION On March 24, 2016, the UN General Assembly Human Rights Council (UNHRC), at its 31st session, adopted resolution 31/36, which instructed the High Commissioner for human rights to prepare a “database” of certain business enterprises1.
    [Show full text]
  • Tanger Med News
    Juillet 2019 July 2019 TANGER MED NEWS DHL and Nippon Express Valeo sets up at TE Connectivity inaugurates a set up at Tanger Med Tanger Med new unit at Tanger Med Logistics Zone industrial platform industrial platform Tanger Med Group's news HRH CROWN PRINCE MOULAY EL HASSAN REPRESENTS HM THE KING AT CEREMONY TO LAUNCH PORT OPERATIONS OF TANGER MED 2 On Friday, June 28th, 2019, HRH the crown Prince Moulay "The Tanger Med complex reflects the accomplishment of a El Hassan represented HM King Mohammed VI, launched strong-willed royal visionary ambition. The implementation port operations of the new Tanger Med 2 port, allowing the site envisioned by His Majesty the King for this project, at the platform Tanger Med Port Complex become the first capacity crossroads of maritime routes has proved to be appropriate in the Mediterranean area. and relevant " said Mr. Fouad BRINI, President of Tanger Med. Tanger Med is the fruit of HM King Mohammed VI's royal Indeed, Tanger Med is located on the Strait of Gibraltar at vision set out during his 2003 speech revealing his wish the crossroads of the major East / West and North / South to make Tanger Med "an integrated regional development maritime routes connecting Asia, Europe, the Americas and model". Tanger Med consolidates the Kingdom of Morocco's Africa. anchoring in the Euro-Mediterranean area and enhances its The additional capacity of the two new Tanger Med 2 vocation as a pole of exchange between Europe and Africa, terminals is 6 million containers. The total capacity of Tanger the Mediterranean and the Atlantic, and at the same time Med is now more than 9 million containers.
    [Show full text]
  • Rapport Annuel 2017.Pdf
    RAPPORT ANNUEL 2017 COMPAGNIE D’ASSURANCES ET DE RÉASSURANCE Entreprise privée régie par la loi N°17-99 portant code des assurances 181, Bd d’Anfa - Casablanca -Maroc Tel: (212) 05 22 95 76 76 - Fax: (212) 05 22 36 98 12/14/16 www.atlanta.ma atlantamaroc atlanta_maroc 2 Compagnie d’assurances et de réassurance 3 SOMMAIRE MOT DU PRÉSIDENT IDENTITÉ & PROFIL Gouvernance & Management 1947 - 2017 : 70 ans en dates clés Nos valeurs et engagement Produits & Services Réseau de distribution ACTIVITÉS SECTEUR Marché de l’Assurance Marché Financier ACTIVITÉS ATLANTA ASSURANCES Interview avec M. Benchekroun Activités & Réalisations Atlanta Assurances ACTIVITÉS SOCIÉTALES Interview avec Mme Bensalah Labellisation RSE -CGEM Trophée Lalla Hasnaa « littoral durable » Partenaire leader du Pacte Mondial (PNUD Maroc) Activités sociétales RAPPORT FINANCIER Interview avec M. Tabine Résolutions 2017 États Comptables Rapports des commissaires aux comptes ANNEXE Réseau exclusif Atlanta Assurances 4 Compagnie d’assurances et de réassurance MOT DU PRÉSIDENT 5 Fiers de nos 70 ans d’histoire et de nos réalisations durant ces trois dernières années, le Groupe Atlanta s’inscrit dans cette même dynamique pour son plan stratégique 2018-2020. Mohamed Hassan BENSALAH Président-Directeur Général 6 Compagnie d’assurances et de réassurance L’année 2017 a été une année charnière pour Atlanta Assurances. Elle a marqué la fin de notre plan stratégique triennal Massar Attafaouk I, la préparation du plan Massar Attafaouk II, la célébration de notre 70ème anniversaire et le démarrage effectif de notre activité en Côte d’Ivoire. Ce contexte particulier impose un retour sur les réalisations de ces trois dernières années.
    [Show full text]