Cession of ONA’s shares the capital of AXA Morocco

Negotiations may have been engaged between holdings ONA and SNI on the one hand and the Banques Populaires Group on the other, about a possible takeover of 49% of the shares that ONA holds in AXA Maroc capital.
The Banques Populaires have longed to penetrate the insurance sector, but the different license applications made, so far, by the bank have been rejected by the supervising authorities.
On the other hand, AXA remains strictly opposed to the possibility of a merger with Wafa Assurance.

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