Statement from the Competition Council regarding the concentration project concerning the exclusive takeover by the company “Saham Horizon S.A” of the company “La Marocaine Vie S.A” through the acquisition of 50.98% of its share capital and 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 “summary of the operation” 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 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 concerned:

• The Acquirer: “Saham Horizon S.A”;
• The target: “La Marocaine Vie S.A.”.

Nature of the operation

• Exclusive takeover.

Economic sectors concerned

• The insurance market.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this statement, i.e. May 27, 2024.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council has received a notification whereby the company “Saham Horizon” (Saham Horizon) intends to take exclusive control of the company “La Marocaine Vie (LMV)” through the acquisition of 50.98% of the share capital and voting rights.

“Saham Horizon” is a Moroccan joint-stock company with a capital of 119,553,400 dirhams, headquartered at Hay Plateau, Angle Abdelmoumen and Rue Murillo, Casablanca, and registered with the Casablanca Trade Register under number 409,789. “Saham Horizon” mainly operates in the acquisition of stakes in companies active in various sectors.

“LMV” is a Moroccan joint-stock company with a capital of 231,750,000 dirhams, headquartered at 37 Boulevard Moulay Youssef, Casablanca, and registered with the Casablanca Trade Register under number 36,675. “LMV” specializes in life insurance.

Done in Rabat on May 16, 2024