Merger between the subsidiaries of BMCE Bank and SAHAM Assurance
Salafin and Taslif, two Moroccan consumer credit companies, owned respectively by BMCE Bank and SAHAM Assurance, have entered into a merger and acquisition transaction. The exchange ratio was set at a Salafin share for 39 Taslif shares.
The proposed merger will be submitted to the general meetings of the two subsidiaries for approval in the second half of 2018. Once approved, it will then be submitted for final approval by the Moroccan capital market authority (AMMC).
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