Bernard Hayot group takes control of Ivorian Company of automotive distribution

Bernard Hayot CEO and funder of groupe Bernard Hayot
Bernard Hayot CEO and funder of  groupe Bernard Hayot
Bernard Hayot CEO and funder of groupe Bernard Hayot

Bernard Hayot group has bought Socida, car brands Renault and Suzuki dealer in Ivory Coast. The transaction, whose amount was not disclosed, is the first acquisitions of the group in the automotive industry in French speaking West Africa countries. On the 1st of January 2015, the Bernard Hayot Group will take effectively the control of the Ivorian Society automobile de distribution (Socida).

“The acquisition of Socida by Bernard Hayot group is part of our group in Africa’s development strategy. Indeed, we are located in the mainland for seven years through our automotive activities in Algeria with the distribution of Citroën vehicles and Scania truck, in Morocco with car rental business under the Hertz franchise, Ghana with Renault Trucks and Mazda, “said in a statement by Nicolas Pompignan, CEO of Bernard Hayot group in charge of international development.
He noted that Bernard Hayot group which was founded in 1934 was advised in this acquisition by the business law firm CMS Bureau Francis Lefebvre. In Côte d’Ivoire, Bernard Hayot group is already present in the agribusiness. The group has invested about 19 million Euros in industrial banana plantations.

About Khalid Al Mouahidi 3762 Articles
Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network