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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 «summary of the operation» below, containing the information provided by the parties.
This information has been 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 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: The company « GAP Arthur Holdco P.» affiliated with the « General Atlantic » Group ;
- The target: The company « Actis Holdings SARL ».
Nature of the operation
- Acquisition of exclusive control
Economic sectors concerned
- Higher education and hospitality sectors
Deadline for interested third parties to submit their observations
- 10 days from the date of publication of this press release, i.e. May 27, 2024
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES
The Competition Council received a notification of an economic concentration operation concerning the acquisition of exclusive control of the company « Actis Holdings Sàrl » by the company « GAP Arthur Holdco, LP » through the acquisition of all (100%) of its shares and associated voting rights.
« GAP Arthur Holdco » is a limited partnership company affiliated with an investment fund group (« General Atlantic ») that provides capital to growing companies globally. The « General Atlantic » group is active in various countries in the consumer, financial services, health, technology, climate, and life sciences sectors. In Morocco, the « General Atlantic » group is invested in the online publishing, online board games, online sportswear, online insurance brokerage services, online travel booking, and digital products market sectors. The group’s headquarters are located in the United States.
« Actis Holding Sàrl » is a limited liability company that manages an investment fund group with stakes in various portfolio companies. « Actis » is a sustainable infrastructure investor with portfolio companies in the energy infrastructure, long-life infrastructure, digital infrastructure, real estate, and private equity sectors. In Morocco, « Actis » subsidiaries are active in the private higher education and 4-star or higher hospitality sectors. Its headquarters are located in Luxembourg.
Done in Rabat on May 16, 2024
