The Moroccan construction group TGCC completed the acquisition of 51% of the share capital and voting rights of Safettras on Thursday 15 October, for about 58.6 million dirhams, according to a statement from the group. The existing shareholders retain the remaining 49%.
The transaction, provided for under a contract signed on 4 June 2026, was completed after the lifting of the conditions precedent, including authorisation from the Competition Council. TGCC thus strengthens its presence in specialised geotechnical works.
Safettras, the Société africaine des études et des travaux spéciaux, operates in deep foundations, retaining structures and soil improvement. The company, based in Dar Bouazza near Casablanca, brings these technical activities to a group already active in the construction of hotel, industrial, administrative and residential buildings.
In its presentation of the project dated 26 June, the Competition Council described the transaction as a joint takeover of control with the existing shareholders. The majority stake announced in the share capital forms part of this arrangement, which associates TGCC with the other shareholders.
Safettras posted revenue of 65.3 million dirhams in 2025. Salah Elmouda will remain managing director, TGCC said. The group says it employs more than 14,000 staff in Morocco and sub-Saharan Africa.