Press release from the Competition Council regarding the economic concentration project concerning the creation of the joint venture ‘Capital Associates SA’ by the companies ‘La Compagnie Financière Holding Atlas SA’ and ‘Société Arabo Libyenne D’investissements Extérieurs SA’

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 ‘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 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:

• Founding company No.1: ‘La Compagnie Financière Holding Atlas SA’;
• Founding company No.2: ‘Société Arabo Libyenne D’investissements Extérieurs SA’;
• Joint venture: ‘Capital Associates SA’.

Nature of the operation:

• Creation of a joint venture.

Economic sectors concerned:

• Real estate development market.

Deadline for interested third parties to submit their observations:

• 10 days from the date of publication of this press release, i.e. November 24, 2025.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council has received notification of an economic concentration project concerning the creation of the joint venture ‘Capital Associates SA’ by the companies ‘La Compagnie Financière Holding Atlas SA’ and ‘Société Arabo Libyenne D’investissements Extérieurs SA’.

‘La Compagnie Financière Holding Atlas SA’ is a Moroccan joint-stock company with a capital of 60,000,000 dirhams, registered in the Casablanca Trade Register under number 181,559, with its head office located at 88, rue El Marrakchi, Hippodrome district, Casablanca. It is active in the fields of investment banking, stock brokerage, asset management, and real estate.

‘Société Arabo Libyenne D’investissements Extérieurs SA’ is a Libyan joint-stock company whose branch is registered in the Casablanca Trade Register under number 89,715, with its address at Résidence les Jardins d’Anfa, 5th floor, Imm D, Financial City district, Casablanca, engaged in the management of hotel establishments. The company belongs to the Libyan group ‘Libyan Foreign Investment Company’ with its head office at Al Dahra, Tripoli, Libya, registered in the Tripoli Trade Register under No. 9481 known by the acronym ‘LAFICO’, a Libyan state investment fund responsible for international investments, including in Morocco.

‘Capital Associates SA’ is a Moroccan joint-stock company with a capital of 300,000 dirhams, registered in the Casablanca Trade Register under number 216,127, with its head office at 88, rue El Marrakchi, Hippodrome district, Casablanca, which will be engaged in real estate development.

 

Done in Rabat on November 13, 2025