Press release from the Competition Council regarding the economic concentration project concerning the acquisition by the company “Pick Albatros Holding For Financial Investments S.A.E.”, through its subsidiary “Albatros Prestige Groupe SA”, of tangible and intangible assets held, on the one hand, by the company “Sanlam Maroc SA” and, on the other hand, its subsidiary the company “Luxor SA”, related to the hotel business

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 party, which is 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 No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups concerned:

• The direct acquirer: the company “Albatros Prestige Groupe SA”;
• The indirect acquirer: the company “Pick Albatros Holding for Financial Investments S.A.E.”;
• The target assets: The Mövenpick hotel asset, located in Casablanca including the real estate and commercial assets related to it, held, on the one hand, by the company “Sanlam Maroc SA” and, on the other hand, by its subsidiary “Luxor SA”.
• The seller: The company “Sanlam Maroc SA”.

Nature of the operation

• Acquisition of asset elements.

Economic sectors concerned

• Hotel sector.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e. May 7, 2026.

NON-CONFIDENTIAL SUMMARY PROVIDED BY THE PARTIES

The Competition Council has received notification of an economic concentration project concerning the acquisition by the company “Pick Albatros Holding For Financial Investments S.A.E.”, through its subsidiary “Albatros Prestige Groupe SA”, of tangible and intangible assets related to the hotel business held, on the one hand, by the company “Sanlam Maroc” and on the other hand, by its subsidiary the company “Luxor SA”.

“Pick Albatros Holding for Financial Investments S.A.E.” is a joint-stock company under Egyptian law, with its head office located in Heliopolis, 10 Obour Buildings Salah Salem, Cairo, Egypt and registered with the Cairo Chamber of Commerce under number 401630. It is active in the development and management of hotel establishments in Egypt and Morocco.

“Albatros Prestige Groupe SA” is a joint-stock company under Moroccan law, with its head office located at Résidence Bougainvillier, apartment 33, 4^th floor, office no. 6 A Droite, Lot Bouizakarne, route de Safi, Marrakech. It was specifically established for the purpose of the envisaged operation.

“Luxor SA” is a joint-stock company under Moroccan law, active in the hotel sector and carrying out hotel projects for the company “Sanlam Maroc”.

“Sanlam Maroc SA” is a joint-stock company under Moroccan law, governed by Law 17-99 on insurance.

 

Done in Rabat, May 7, 2026.