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2 January 2006 - Gide Loyrette Nouel assists Finance.com on the acquisition by Credit Mutuel of an equity stake in its subsidiary, RMA-Watanya:
Gide Loyrette Nouel Casablanca acted as advisor to the Moroccan company Finance.com in connection with the acquisition by Crédit Mutuel Insurance Group of a significant equity stake of nearly 10% in the Moroccan insurance company, RMA-Watanya. The financial consideration paid for this acquisition remains confidential.
This transaction represents the first acquisition by Crédit Mutuel Insurance Group of a strategic equity stake in Morocco.
RMA-Watanya, which is the product of a merger between RMA and Al-Wataniya, is the leading insurance company in Morocco with a market share of between 23% and 24%. It handles all of the insurance business of the Moroccan financial holding company, Finance.com.
The Gide Loyrette Nouel legal team advising Finance.com for the purposes of this transaction included partner Hicham Naciri and Thomas Urlacher.
The in-house legal team of Crédit Mutuel Insurance Group handled the acquisition on its behalf.
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