Press Release from the Competition Council regarding the economic concentration project concerning the exclusive takeover by the company “Fidis SPA” of the company “Axa Crédit SA”

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 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the “summary of the transaction” below, containing the information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed transaction.

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 issued 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: “Fidis SPA”;
• The target: “Axa Crédit SA”.

Nature of the transaction

• Acquisition of exclusive control.

Economic sectors concerned

• Consumer credit.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e., April 23, 2025.

NON-CONFIDENTIAL SUMMARY OF THE TRANSACTION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration operation concerning the exclusive takeover by the company “Fidis SPA” of the company “Axa Crédit SA”, through the acquisition of 80% of its share capital and voting rights.

“Fidis SPA” is an Italian joint-stock company indirectly owned 100% by “Stellantis NV” through “Stellantis Europe SPA”. “Stellantis NV” is a Dutch legal entity and the parent company of the “Stellantis” group, acting as a holding entity. “Fidis SPA” and its subsidiaries provide financial services to players in the automotive sector (suppliers, dealers, and end customers).

“Axa Crédit SA” is a Moroccan joint-stock company, specializing in consumer credit and the distribution of insurance products. The company is 99.96% owned by the Moroccan joint-stock companies “Axa Assurance Maroc SA” and “Axa Holding Maroc SA”. The latter is the parent company of “AXA Assurance Maroc SA”.

 

Done in Rabat on April 10, 2025.