Gide, counsel to Crédit Agricole S.A. on the sale of its 78.7% stake in subsidiary Crédit du Maroc to Moroccan group Holmarcom
10 May 2022
Deals | Belgium | France | Morocco | Corporate/M&A
Crédit Agricole S.A. has announced signing a contract for the full sale of its 78.7% stake in Crédit du Maroc to Moroccan group Holmarcom.
This transaction will be subject to the authorisation of the Moroccan authorities.
It will be carried out in two stages: a tranche of 63.7% will be sold by the end of 2022, followed by a second tranche covering the remaining 15%, eighteen months after the closing of the transaction.
Gide's M&A team was coordinated by partner Jean-Gabriel Flandrois and associate Eya Ennaifer in Paris, and by partner Simon Auquier and counsel Chloé Joachim de la Rivière in Casablanca. Partner Farah El-Bsat and associates Faten Anis and Mounia Larhrissi acted on the financing aspects, while partner Thierry Dor and associate Nina Khalfi were in charge of technology and information matters. Partner Ségolène Pelsy and associate Marc-Antoine de Chillaz coordinated competition law aspects.
The M&A Legal CASA team was coordinated by Annabel Girel and Sabry Berrima.