Press release from the Competition Council regarding the economic concentration project concerning the joint takeover by the company ‘ICG plc’ of the company ‘Magellan Partners SAS’, alongside the company ‘Gala Investment SAS’

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 adopted for its implementation, as amended and supplemented, the Competition Council makes available to the public the ‘summary of the operation’ below, containing the information provided by the parties.

This information was prepared by the notifying parties, who are solely responsible. Inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 adopted for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups concerned:

• The acquirer: ‘ICG plc’;
• The historical shareholder: ‘Gala Investment SAS’
• The target: ‘Magellan Partners SAS’.

Nature of the operation:

• Joint takeover.

Economic sectors concerned:

• Management consulting and information technology services.

Deadline for interested third parties to submit their observations:

• 10 days from the date of publication of this press release, i.e. September 15, 2025.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration operation concerning the joint takeover by the company ‘ICG plc’, through the company ‘Strait Investment SARL’, a Luxembourg legal entity 100% owned and controlled by a fund advised by ‘ICG’, of the company ‘Magellan Partners SAS’, alongside the company ‘Gala Investment SAS’, through the acquisition of approximately 18% of its share capital and related voting rights.

‘ICG plc’ is a British company registered under number 02234775, with its registered office at Procession House, 55 Ludgate Hill, London, United Kingdom, EC4M 7JW. ‘ICG’ is a global alternative asset management company, active in structured capital and private equity, private debt, real assets, and credit. It is based in the UK and operates in Europe, Asia-Pacific, and the United States.

‘Gala Investment’ is a simplified joint-stock company registered under number 507865665 RCS Paris, with its registered office at 24-24bis, rue de Téhéran, Paris (75008). ‘Gala Investment’ is a holding company controlled by the Zeitoun family. It holds stakes in real estate companies, as well as minority stakes in an investment company and subsidiaries of the Magellan group;

‘Magellan Partners’ is a simplified joint-stock company registered under number 508200649 at the RCS, with its registered office at 48-50 rue de la victoire in Paris (75009). ‘Magellan’ is a consulting and IT services group specializing in business organization and information systems. ‘Magellan’ mainly operates in France. ‘Magellan’ is active in Morocco through its Moroccan subsidiary, ‘Nelite North Africa’, specializing in designing, implementing, and managing innovative solutions and experiences based on Microsoft technologies. Its main activities include data management and generative artificial intelligence, new ways of working, cloud infrastructures (Azure), as well as developing customized solutions to modernize and digitize business processes.

 

Done in Rabat, on September 4, 2025