Morocco's leading brewer and soft drink bottler Societe des Brasseries du Maroc has sold off its soft drink unit for US$73m, according to reports today.

Quoting senior fund managers, Reuters reported that the company had sold off its soft drink division, which it set up about three years ago as part of a restructuring aimed at separating soft drinks from brewing, to Spain's Equatorial Coca-Cola Bottling Company.

"SBM reached a deal a couple of days ago with Spain's Equatorial Coca-Cola Bottling Company for the sale of its 100 percent-owned SCBG for US$73m," a senior fund manager said.

SBM is owned by France's Castel. As well as the leading brewer SBM also bottles and sells Coca-Cola products in the country.

However Castel bought a controlling stake in the company in April and already has a Moroccan soft drinks company called Cobomi, which is SBM's main domestic competitor with brands such as Orangina and Tops Cola.