Press Release from the Competition Council regarding the concentration project involving the joint takeover of the company “EPEGA SA” by the company “Valoris Equity Fund” through the acquisition of a 18.89% stake alongside the historical shareholders

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 adopted for its implementation, 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 adopted for the implementation of Law 104-12 on freedom of prices and competition.

Names of the companies and groups involved:

• The acquirer: “Valoris Equity Fund”;
• The target: “Epega SA”.

Nature of the operation

• Joint control acquisition.

Economic sectors concerned

• The insurance brokerage market.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e. October 21, 2024.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received a notification of an economic concentration project concerning the joint takeover of the company “EPEGA SA” by “Valoris Equity Fund” through the acquisition of an 18.89% stake in its share capital and voting rights alongside the historical shareholders.

The operation results in the transition from joint control of Epega SA by Abdelhamid Habboubi, Diwan Attadbir SARL, Mouna Medkouri, Ahmed Mounir, Fatima Mourabih, Nym Invest SARL, and Maghreb performance SA, to joint control of Epega SA exercised by Abdelhamid Habboubi, Diwan Attadbir SARL, Mouna Medkouri, Ahmed Mounir, Fatima Mourabih, Nym Invest SARL, Maghreb Performance SA, and Valoris Equity Fund.

“Valoris Equity Fund” is an investment fund in the form of a collective investment scheme in capital, which aims to make investments in small and medium-sized enterprises.

“Epega SA” is an insurance brokerage company that operates in insurance and reinsurance intermediation and advisory services, across all branches.

 

Done in Rabat on October 10, 2024