Mar 30 2006 |
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ONA, Auchan in total disagreement
Morocco's biggest diversified conglomerate ONA and its French strategic partner Auchan totally disagree on the composition of the governing body of the holdings that manage the two supermarkets Marjane and Acima , as well as their development.Their first crisis since the partnership was signed in 2001, this disagreement could turn into a real clash between the two giants and could culminate in the departure of Auchan, reported the Moroccan daily L'Economiste, quoting pundits.
The French distribution group has tried vainly in the few past years to convince its partner to let it take the majority of the capital. But this is not the only cause of the current crisis.
They disagree on different points. The first is the composition of the governing body and surveillance council. For both holdings, it is the principle of parity that reigns: a president from ONA and a director general from Auchan.
Recently, however, ONA communicated to Auchan that it intends to make the representation conform to each party's weight in the capital ( ONA 51% and Auchan 49%). The France-based company categorically rejected this idea, but the decision will be applied since the surveillance council has already confirmed it.
The other cause of disagreement is the difference in vision. ONA wants the synergy of Marjane and Acima to be privileged. This means that its entities should be prioritised in the provisions.
"We have done a good job since the signing of the partnership agreement, but being a partner also means being frank and having good relations. And it is not obligatory to be always in agreement," said ONA 's Chief Executive Officer (CEO), Saâd Bendidi.
It is also having a relationship in which different opinions are expressed but politely, he underlined. "In this respect," he continued, "we have a good partnership with Auchan."
ONA intends to accelerate the pace of Acima supermarkets. The ambition is to open seven to ten a year.
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