As part of the internal reorganization of Tanger Med port complex and following the approval of the Minister of Economy, Finance and Administrative Reform, the Boards of Directors of Tanger Med Port Authority (TMPA) and Tanger Med 2 (TM2), which met on June 29, 2021, have agreed on the terms of the merger project through the absorption of TMPA by TM2. This merger-absorption falls within the framework of the directives defined by the State concerning the consolidation of public entities. As a result, the Special Shareholders’ Meetings of TMPA and TM2 were held on December 15, 2021 and approved the merger of TMPA into TM2 and the dissolution of TMPA without liquidation. As compensation for the contributions made by TMPA shareholders and in accordance with the exchange parity, TM2 increased its share capital by MAD 14,850,000,000 through the issue of 148,500,000 new shares at an issue price of MAD 100 per share and the corresponding cancellation of 25,502,996 shares held by Tanger Med 2.
As approved by its Special General Assembly, the new entity will be called “Tanger Med Port Authority”, or “TMPA” for short, and will be in charge of the management and operation of Tanger Med Port 1, the Passengers and Ro-Ro Port, and Tanger Med Port 2.
