Franco-Spanish tobacco firm Altadis acquired 80% of Régie des Tabacs for MAD 14.08 billion ($1.5 billion). The deal gave Altadis a monopoly on imports and distribution of manufactured tobacco until the end of 2007. Altadis plans to implement a restructuring plan, which includes the closure of a plant in Casablanca, leaving only three in the country, and the reduction of the company's workforce by one third. Crédit Lyonnais and Crédit du Maroc Capital advised on the deal. In 2003, Régie des Tabacs sold 14.2 billion cigarettes, outpacing production of 11.5 billion in 2002.