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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 “operation summary” 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 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 issued for the implementation of Law 104-12 on freedom of prices and competition as amended and supplemented.
Names of the companies and groups concerned:
- The Acquirer: “HIGHTECH PAYMENT SYSTEMS SA”;
- The target: “CR2 Limited”.
Nature of the operation
- Exclusive takeover.
Economic sectors concerned
- The electronic payments market.
Deadline for interested third parties to submit their observations
- 10 days from the date of publication of this press release, i.e. July 15, 2024.
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES
The Competition Council has received notification of an economic concentration project concerning the exclusive takeover of the company “CR2 Limited” (“CR2”) by the company “HIGHTECH PAYMENT SYSTEMS SA” (“HPS”) through the acquisition of 100% of its share capital and voting rights.
“HPS”, a Moroccan joint stock company listed on the Casablanca Stock Exchange, is a multinational company active in the development of electronic payment software solutions and related services.
“CR2” is an Irish company engaged in selling software solutions to banks in emerging and developing markets, particularly in Africa and the Middle East.
Done in Rabat on July 4, 2024
