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16 July 2007 - Gide Loyrette Nouel Casablanca advised the ONA group in the context of its withdrawal from AXA Assurance Maroc (AXA Insurance Morocco):
The Casablanca office of Gide Loyrette Nouel advised the ONA group in the context of the withdrawal of its 49% shareholding in the capital of AXA-ONA, holding and controlling company of AXA Assurance Maroc (AXA Insurance Morocco).
The transaction was carried out on the basis of a valorisation of the capital of AXA-ONA of nearly 6 billion dirham (approximately € 530 million) and was locally financed.
This transaction comes within the framework of the recent strategic orientations of ONA and enables AXA Assurance Maroc (AXA Insurance Morocco) to strengthen its integration within the AXA group, which now has a 100% control over it.
Gide Loyrette Nouel’s legal team who assisted ONA (Florence Hyacinthe, Head of the Legal Department) on this transaction comprised Hicham Naciri, partner, and Julien David. AXA was advised by Norton Rose (Alain Malek, partner and Anne-Laure Bernard Bouissières).
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