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17 November 2008 - Gide Loyrette Nouel Casablanca, legal counsel to the financial management and advisory bank, Upline, in connection with its takeover by Banque Centrale Populaire:
Gide Loyrette Nouel Casablanca advised the shareholders of the financial management and advisory bank, Upline, with regard to the signature of an agreement with Banque Centrale Populaire providing for the acquisition of a majority stake in the Upline group by Banque Centrale Populaire.
For the purposes of this transaction, Upline International, the group’s parent company, was valued at 749,000,100 dirhams (around 70 million euros) for its entire share capital.
The aim of the deal is to create one of the top “equity houses” in Morocco by pooling the respective relevant sector assets of Banque Centrale Populaire and Upline group shareholders and to benefit from synergies with the Banque Centrale Populaire banking network. This “partnership” will involve the transfer of the dedicated Banque Centrale Populaire’ subsidiaries in this sector to the Upline group.
Partner Hicham Naciri and Sylvain Aoust, associate, made up the Gide Loyrette Nouel legal team advising and assisting the Upline shareholders with this transaction.
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