Press release from the Competition Council regarding the concentration project involving the joint takeover by “Azur Innovation Fund” and “CDG Invest SA” of the company “LNKO SARL” through the acquisition of respectively an additional 16.63% and 3.42% of its capital and associated voting rights

In accordance with Article 13 of Law No. 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 below “operation summary,” 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 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 involved:

• Acquirer 1: “Azur Innovation Fund”;
• Acquirer 2: “CDG Invest SA”;
• The target: “LNKO SARL”.

Nature of the operation

• Joint takeover.

Economic sectors concerned

• The market for the distribution and retail sale of glasses.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e., September 16, 2024.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received a notification of an economic concentration operation consisting of a joint takeover by “Azur Innovation Fund” and “CDG Invest SA” of the company “LNKO SARL” through the acquisition of respectively an additional 16.63% and 3.42% of its capital and associated voting rights.

The operation results in the transition from joint control of “LNKO SARL” by “CDG Invest SA” and “LNKO USA” to joint control of “LNKO SARL” exercised by “CDG Invest SA”, “LNKO USA”, and “Azur Innovation Fund”.

“Azur Innovation Fund” is an investment fund in the form of a collective investment scheme in capital, which aims to invest in innovative Moroccan startups.

“CDG Invest SA” is a Moroccan public limited company that mainly operates in the acquisition and management of investment funds and the holding of stakes in the capital of companies both in Morocco and abroad. It is a wholly-owned subsidiary of the Caisse de Dépôt et de la Gestion.

The company “LNKO SARL” operates in the market for the distribution and retail sale of glasses.

 

Done in Rabat on September 5, 2024