Economy & BusinessCrédit du Maroc: the Holmarcom group negotiates the repurchase...

Crédit du Maroc: the Holmarcom group negotiates the repurchase of the shares of the French Crédit Agricole

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The group belonging to the Bensalah family intends to take control of Crédit du Maroc soon. Information confirmed via press releases issued by Holmarcom and the Moroccan subsidiary of the French bank Crédit Agricole S.A.

“These discussions are at a preliminary stage without any certainty on their outcome. Holmarcom will communicate more in due course if this project were to materialize and in the meantime, does not intend to comment further on this project,” said a press release from group owned by the Bensalah family.

As a reminder, the capital of Crédit du Maroc (a bank listed on the Casablanca Stock Exchange) is divided between Crédit Agricole (78.69%), Wafa Assurance (10.73%). The rest of the shares, ie 10.56%, are held by small holders.

For its part, the Moroccan bank, also by way of press release, specifies that “our majority shareholder has confirmed to us that it is in discussion with the Moroccan group Holmarcom. These discussions are at a preliminary stage without any certainty as to the materialization of a sale. of Crédit Agricole SA’s stake in Crédit du Maroc “.

The Holmarcom group said in its press release that this transaction was “part of the strategic reorganization of its Finance division”, operated in July 2019, aimed “at supporting the development of its financial activities both in Morocco and in Morocco. on a continental scale “.

The Moroccan Blog
The Moroccan Blog
The Moroccan Blog is an English based newsblog dedicated to Morocco. You can find here all news from Morocco across a variety of topics: Arts & Culture, Economy & Business, Lifestyle, Moroccan Sahara, MRE, Society, Tourism & Travel and more.

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