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May 28, 2022 | 3 years ago

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Renault Algérie Production: Madar Holding takes over SNVI share held

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"This transaction, approved by the Conseil de participation de l'Etat (CPE) on 20 April 2021, is one of the main elements in the restructuring of SNVI's activities and reconfiguration of its assets," according to the statement published on Madar Holding's website.

This is a "simple change of method" which is part of the general guidelines of the State-Shareholder which intends to gradually reorganize the interests it holds in partnerships involving public enterprises, explains the same source.

"Thus, in the context of the major project for the creation of the mechanical platform planned at Rouiba and Constantine industrial sites and the redeployment of SNVI's assets, undertaken by the public authorities, the latter had to relieve itself of its 34% shareholdings in RAP and 20% in ZF-Algérie respectively," said Madar group.

To this end, on 20 April 2021, the CPE decided to transfer these holdings to the state-owned company Madar Holding, 100% owned by the Algerian State.


May 29, 2022 | algeria-logo

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