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Holmarcom has finalized the acquisition of a 15% stake in Crédit du Maroc, bringing its total holding to 78.7%.
This operation is consistent with the agreement signed between Holmarcom and the French bank Crédit Agricole, under which the transaction is to be carried out in two stages.
In December 2022, the Moroccan group completed the takeover of 63.7% of Crédit Agricole's shares in Crédit du Maroc. This acquisition was conducted as follows: 50.9% via the holding company Holmarcom Finance Company and 12.8% via the group's insurance subsidiary, AtlantaSanad.
Eighteen months following this first transaction, in June 2024, Holmarcom acquired the remaining 15% stake in the Moroccan bank through Holmarcom Finance Company.
In the end, the 78.7% stake acquired from Crédit Agricole is now held by Holmarcom Finance Company (65.9%) and AtlantaSanad (12.8%).
Holmarcom is a private Moroccan group active in a wide range of business activities, including insurance through its subsidiary AtlantaSanad.
