9 June 2005 - Gide Loyrette Nouel advises Saham on its acquisition of the insurance company CNIA assurance:

Gide Loyrette Nouel (Casablanca) has been acting for Saham Group in connection with its purchase of the Moroccan insurance company, CNIA Assurance, from Arab Insurance Group (ARIG). The purchase price paid for CNIA Assurance by the Saham Group has not been disclosed.

CNIA Assurance is the fourth largest insurance company in Morocco. It is implementing a strategy of diversification into sectors with high-growth potential such as services and distribution.

Saham Group is a forerunner with its call centres (phone assistance) and is also active in the emergency assistance (Isaaf Mondial Assistance), distribution (Bigdil, Best Mountain and Sergent Major) and information technology sectors.

The Gide Loyrette Nouel legal team advising Saham on this acquisition includes Hicham Naciri(partner), Yassir Ghorbal and Thomas Urlacher.

The transaction was handled internally by ARIG's in-house counsel (Katherine Holder, Mathew Johns).