Groupe Holmarcom agreed to acquire 78.7% of stake in Crédit du Maroc S.A. (CBSE:CDM) from Crédit Agricole S.A. (ENXTPA:ACA) on April 27, 2022. 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%, 18 months after the closing of the transaction. This transaction will be subject to the authorization of the Moroccan authorities. As of December 7, 2022 Regulatory approval has received. The closing expected by the end of 2022. As of December 6, 2022, the partial deal for 63.7% stake has been completed and remaining 15% will be completed within 18 months.

Hicham Naciri and Ralph Salameh of Allen & Overy LLP acted as legal advisor to Groupe Holmarcom. Jean-Gabriel Flandrois, simon Auquier, Chloé Joachim de la Rivière, Farah El-Bsat and Ségolène Pelsy acted as legal advisor to Crédit Agricole S.A.

Groupe Holmarcom completed the acquisition of 78.7% of stake in Crédit du Maroc S.A. (CBSE:CDM) from Crédit Agricole S.A. (ENXTPA:ACA) on June 7, 2024. After selling a first tranche of 63.7% in December 2022, Crédit Agricole S.A. has today sold the second remaining tranche of 15%. This transaction takes place after regulatory approvals have been obtained and Crédit du Maroc's autonomisation process has been finalised, in accordance with the announced schedule.