Managem has received approval to buy Sound Energy Meridja Limited, the Moroccan gas business of UK-based Sound Energy.
The Competition Council cleared the deal, allowing the Moroccan mining group to take full control of the company under the country’s economic concentration rules.
The acquisition is part of Managem’s push into the energy sector after building its business in mining. It also follows the group’s recent efforts to expand its presence in Morocco’s energy industry.
Sound Energy Meridja Limited explores and develops gas and other hydrocarbon projects in Morocco. The acquisition will add those assets to Managem’s portfolio and support its expansion into energy.
