The Casablanca-based construction giant Travaux Généraux de Construction de Casablanca (TGCC) has reached a major agreement to acquire 60% of Société de Travaux Agricoles Marocains (STAM), the majority shareholder of VIAS SA. This acquisition, carried out from STAM’s historical shareholders, is coupled with a capital increase that will allow STAM to boost its stake in VIAS to 80%. The entire transaction values the STAM Group at 4.3 billion dirhams.
Expected to be finalized in the second quarter of 2025, the deal is subject to regulatory approvals and other customary conditions. TGCC has already secured the necessary financing, positioning itself for diversification and international expansion.
This move creates strong synergies between TGCC, a specialist in building construction, and STAM, a key player in transport infrastructure, public works, and urban development. By merging their expertise, the two companies aim to offer a broader, more competitive industrial portfolio, particularly in international markets.
With over 1,000 completed projects, TGCC has established itself as a leader in construction across Morocco and Africa, with expertise spanning hospitality, commercial, industrial, and residential sectors. Founded in 1965, STAM initially specialized in agricultural development before expanding into major public works, road infrastructure, and tourism projects. STAM’s subsidiary VIAS has played a crucial role in the construction of Rabat-Salé and Casablanca tramways.
Following the acquisition, Louis Raymond Baudrand will remain a key shareholder and continue serving as Chairman and CEO of the STAM Group, ensuring leadership continuity and a smooth transition.
By acquiring STAM, TGCC is not only expanding its portfolio but also gaining access to new markets in Africa and beyond. This strategic alliance has the potential to reshape Morocco’s construction sector and enhance the global competitiveness of Moroccan companies.
