A merger-absorption contract of the company “SAFIR joint-stock company” by the company “SARPI joint-stock company “, subsidiaries of Sonatrach, aiming especially at the synergy of resources by the grouping of their activities, was signed on Sunday, the group said in a statement.
The contract, which is part of the reconfiguration of Sonatrach’s national portfolio, was signed last Thursday at the headquarters of the Sonatrach Para-Petroleum Services Holding (SSPP), in the presence of the Director of Corporate Affairs, the CEOs of the holding companies, the subsidiaries and the senior executives of the companies concerned, the same source said.
This merger operation aims essentially “to synergize human, financial, material, and managerial resources by combining the activities of the two companies (the acquirer and the acquired), allocating and using existing potentials rationally and optimally,” explained the statement.
It also aims to “establish an Engineering, Procurement and Construction (EPC) company by combining the expertise of SAFIR Spa and SARPI Spa, particularly in the engineering field, ensuring better support for the implementation of the Group’s EPC projects, and seizing new business opportunities as a result of the synergy resulting from this merger operation,” according to the National Hydrocarbons Group.
During this ceremony, it was specified that this absorption merger operation “will have no impact on the professional achievements of the employees of the acquired company SAFIR joint-stock company,” the statement emphasizes.