Statement from the Competition Council regarding the concentration project involving the acquisition by « Mutuelle Agricole Marocaine d’Assurance », « Mutuelle Centrale Marocaine d’Assurances », « Mutuelle Attamine Chaabi », and « Régime Collectif d’Allocation de Retraite » of 14.35% of the share capital and associated voting rights of the company « Cosumar »

In accordance with Article 13 of Law 104-12 on freedom of prices and competition as amended and supplemented, and Article 10 of Decree No. 2-14-652 issued for its implementation, 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 statement 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.
Names of the companies and groups involved:
– The acquirers:
 the company « Mutuelle Agricole Marocaine d’Assurance – MAMDA »;
 the company « Mutuelle Centrale Marocaine d’Assurances – MCMA »;
 the company « Mutuelle Attamine Chaabi – MAC »;
 the public institution « Régime Collectif d’Allocation de Retraite – RCAR ».
– The target: the company « Cosumar »
Nature of the transaction
– Acquisition of shares
Economic sectors concerned
– Sugar production, supply, and marketing sector and its derivative products.
Deadline for interested third parties to submit their comments
– 10 days from the date of publication of this statement, i.e., October 20, 2023

NON-CONFIDENTIAL SUMMARY OF THE TRANSACTION PROVIDED BY THE PARTIES
The Competition Council received a notification according to which Mutuelle Agricole Marocaine d’Assurance (MAMDA), Mutuelle Centrale Marocaine d’Assurances (MCMA), Mutuelle Attamine Chaabi (MAC), and Régime Collectif d’Allocation de Retraite (RCAR) will acquire a portion of Wilmar group’s (Wilmar) stake in Cosumar (14.35%), as part of Wilmar’s divestment of its entire stake in the Target, representing 30.05% of the share capital and voting rights of the Target.

MAC is a mutual insurance company headquartered at the corner of Avenue Mohammed VI and Rue Houmane El Fatouaki, Rabat, registered with the Rabat Trade Register under number 106671.

MCMA is a Moroccan mutual insurance company headquartered at 16 rue Abou Inane, Rabat, registered with the Rabat Trade Register under number 59791.

MAMDA is a Moroccan mutual insurance company headquartered at 16 rue Abou Inane, Rabat, registered with the Rabat Trade Register under number 59789.

RCAR is a Moroccan public institution established by Dahir No. 1-77-216 of October 4, 1977, headquartered at Centre d’Affaires – Avenue Annakhil, Rabat, Morocco.

Cosumar is a public limited company headquartered at 8 rue El Mouatamid Ibnou Abbad, Casablanca, registered with the Casablanca Trade Register under number 30037.

Done in Rabat on October 9, 2023.