Atlanta Assurances and Sanad’s merger approved

The Moroccan Capital Market Authority (AMMC) has approved the proposed merger of Atlanta with its subsidiary Sanad. The new structure will operate under the name of "AtlantaSanad".

Atlanta will thus proceed to a capital increase through the creation of 93 159 new shares with a nominal value of 10 MAD (1.07 USD). The total amount of the transaction was set at 8 263 203 MAD (890 500 USD).

The transaction remains subject to the shareholders’ approval during the Extraordinary General Meeting which will be held on 25 September 2020.